Senate invites CBN governor Emefiele over naira depreciation

The Senate has summoned the governor of the Central Bank of Nigeria, Godwin Emefiele, over the depreciation of the naira.

Reports revealed a United States dollar is exchanged to N658 in a parallel market on Wednesday.

The depreciation of the currency fuelled the lawmakers’ decision to invite the CBN governor following a motion by Olubunmi Adetunmbi, senator representing Ekiti north. Contributing to the debate, Sani Musa, senator representing Niger east, said the naira would appreciate only if the country become a productive one.

On her part, Biodun Olujimi, senator representing Ekiti south, accused the CBN of not taking responsibility which has led to the crash of naira.

The Red Chamber asked the apex bank to stop the express deterioration of the value of the naira.