
Senate Invites Emefiele Over Fx Crisis, Naira Devaluation
In the face of the ongoing crisis in the Nigerian foreign exchange market, the Senate has resolved to summon the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to provide answers and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira.
The Red Chambers of the national assembly also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of the CBN intervention funds meant to support critical sectors of the economy.
The resolutions were reached by lawmakers after the upper chamber …