Senate summons Emefiele as naira exchanges for N710 to dollar
The Nigerian Senate Wednesday summoned Godwin Emefiele, the governor of Central Bank, as the naira crashes further.
The naira currently exchanges for N710 to a dollar at the parallel market.
Senator Olubunmi Adetunmbi, (Ekiti north) raised a motion on the currency situation during plenary.
In his contribution, Senator Sani Musa, (Niger east), believes the naira would appreciate if we consume what we produce.
“Let’s eat what we have; let’s do with what we have. Naira will continue to appreciate until we start manufacturing,” Musa said.
Senator Biodun Olujimi believes the CBN is not taking responsibility for the situation as it should.
“Someone should be able to say I have failed, and that is the CBN,” Olujimi said.
“Most of what is happening is because people are taking out the dollar and selling and bringing them back in — we should be penalising somebody for what has happened to the naira-dollar rate.”
“The time has come for us to look holistically into what is happening. What is happening to the dollar is a replica of what is happening to Nigeria,” she said.
