Amid the continued depreciation of naira to dollar, the Senate has decided to call on the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, to provide explanations for the recent development.
This comes after the legislators deliberated a motion on the state of CBN Intervention funds and the free fall of the naira.
The red chamber directed it’s 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 motion which was sponsored by Senator Olubunmi Adetunmbi lamented the country’s economic challenges as well as called drastic measures to curtail the issues being encountered.
Truthlive.net had reported that the naira had further nosedived by N700 to a dollar in the parallel markets as at yesterday Wednesday 28th July, 2022.