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Senate summons CBN Governor to explain Naira fall

14 January 2016, 21:51

Abuja - The Senate has invited the Governor of Central Bank of Nigeria, Godwin Emefiele, to appear before the Upper Chamber of the National Assembly over the continuous depreciation of the Naira.

The CBN governor was summoned after the Senate Leader, Ali Ndume, raised the issues through matter of urgent public importance.

He asked the Senate to invite the governor to explain the current exchange rate of $1 to N300.

Also read: I'll make Naira equal in value to dollar, says Buhari

“This is an issue of national importance, the current exchange rate of $1 to N300. There is need for the CBN to explain the reason and possible solution to the problem,” Ndume said.

When the Senate President Bukola Saraki put the matter to vote, it was unanimously agree by the Senator that the CBN governor appear before them on next legislative day, which is Tuesday next week.

The Naira has continued to come under pressure against the dollar, as Brent crude price continues to decline.

The oil price declined to $35 per barrel on December 11, its lowest price since February 2009.

Nigeria is a key oil exporter.






- CAJ News

Tags cbn abuja naira

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