Harnie Gold
Member
Following the trading of naira for N700 per dollar in the parrallel market, the Senate on Wednesday July 27, have decided to summon the Governor of the Central Bank of Nigeria CBN, Mr. Godwin Emefiele, over the recent depreciation of the naira.
This decision was made after the Senate responded to a motion raised by Senator Olubunmi Adetunmbi (All Progressives Congress (APC) member– Ekiti North Senatorial District).
The motion was titled, “State of the CBN Intervention Funds and Free Fall Of Naira".
At the plenary section of the Nigerian upper chamber of the National Assembly, the members showed their concern over the rate at which Nigeria's currency is depreciating at the international market.
While Senator Olubunmi Adetunmbi raised the motion, Mrs Biodun Olujimi contributed to it by saying that,
“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.”
“Someone should be able to say I have failed, and that is the CBN."
Senator Sani Musa, also contributed to the motion by saying that Nigerians should eat what is produced in Nigeria.
Senator Musa said:
"Let’s eat what we have; let’s do with what we have. Naira will continue to appreciate until we start manufacturing."