The Senate, on Wednesday, resolved to summon the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to educate and inform lawmakers in a closed session on the reasons for the rapid depreciation of the value of the Naira currency.
It also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of CBN intervention funds meant to support critical sectors of the economy.
The resolutions were reached by lawmakers after the upper chamber considered a motion sponsored by Senator Olubunmi Adetunmbi (APC, Ekiti North).
The motion was entitled, “State of CBN Intervention Funds and Free Fall Of Naira.”
Credit: Leadership
