The House of Representatives on Wednesday expressed concern over continuous fall of the naira against major currencies and resolved to investigate the foreign exchange transaction process.
This was sequel to a motion titled: “Call for Investigation of the Central Bank of Nigeria’s Forex Policies,” sponsored by Hon. Ali Isa, the News Agency of Nigeria (NAN) reports.
Moving the motion, Isa said despite the weekly release of foreign exchange by CBN to the Bureau de Change (BDC) operators and banks, the value of naira had continued to depreciate.
Contributing to the debate, Hon. Mojeed Alabi expressed dismay that the CBN governor had continued to turn down invitations for him to appear before the House to explain some of the fiscal policies to the lawmakers.
According to him, for failing to honour the House summons over the falling value of the naira, the CBN governor and his team should be sacked.
Another member of the House, Olawale Raji, decried the poor state of the naira and inconsistent fiscal policies, saying Nigeria was the only country where “black market” figures were quoted as official.
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