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Reps divided over call to sack CBN Governor

06 October 2016, 18:03

Abuja - Members of the House of Representatives were on Wednesday divided over whether or not governor of Central Bank of Nigeria, CBN, Godwin Emefiele, should be sacked, following the continuous fall of the naira in the parallel market, Vanguard reports.

While some members asked the Presidency to remove the CBN governor, the Minority Leader, Leo Ogor, who represents Isoko Federal Constituency of Delta State, opposed the call.

Ali Isa had in a motion, Call for investigation of the Central Bank of Nigeria’s Forex Policies, noted that the lingering scarcity of foreign exchange in the country’s capital market had continued to weaken the naira to the point of its exchanging above N400 to a dollar.

He further stated that the continuous weakening of the naira against the dollar and other foreign currencies had affected the cost of goods, services and production and consequently made life more difficult for most Nigerians.

Contributing to the debate, Mojeed Alabi expressed dismay that the CBN governor, on several invitations, failed to appear before the House to rub minds with lawmakers on some of CBN’s policies.

Meanwhile the National Assembly has passed a motion to invite President Muhammadu Buhari to address the legislature on efforts being made by his administration to on the current economic recession according to News24.

The Senate passed the motion on Thursday in concurrence with the House of Representatives.

- News 24


EFCC arrests former FCT minister

25 October 2016, 12:27

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