Reps Demand Emefiele’s Sack Over Free Fall Of Naira | Independent Newspapers Limited
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Reps Demand Emefiele’s Sack Over Free Fall Of Naira

Emefiele, fall of naira
Posted: Oct 7, 2016 at 5:05 am   /   by   /   comments (1)

By Ahmed Musa.

ABUJA – Some lawmakers in the House of Representatives has called for the immediate removal of the Central Bank of Nigeria’s (CBN) governor, Godwin Emefiele, and his management team over the continuous fall of the naira at the parallel market.

The call for Emefiele’s sack as made by the lawmakers on Wednesday came on the heels of a motion entitled ‘Call for investigation of the Central Bank of Nigeria’s (CBN) forex policies’ brought before the House by Ali Isa.

Debate to the motion took a turn when Mojeed Alabi, a lawmaker from Osun State, expressed dismay that the CBN governor on several invitations failed to show up to rub minds with the House on some of his monetary policies.

“Over the continuous falling of the naira, the CBN governor and his team should be sacked,” Alabi said.

He wondered why the CBN would choose to keep the parliament at bay even in the face of damning allegation that it encourages speculative attacks on the naira while making forex available to a selected few.

Similarly, Wale Raji, while calling for the sack of the CBN governor, said Nigeria was the only country that quotes “black market” figures as official.

“Who is in charge of our forex, CBN or the black marketers, this is the only country in the world where the black market rates are quoted on television.

“If Nigeria were to be a normal country, the CBN governor and his team would have been sacked,” Raji said.

However, Minority Leader, Leo Ogor, kicked against the call for the sack of the CBN governor, saying that the legislature in conjunction with the executive should find lasting solutions to the problem.

He accused stakeholders of paying lip-service to the issue of economy while things get out of hand.

“The only thing we do is pay lip service,” he added.

Meanwhile, the mover of the motion, Isa Ali, earlier said that despite the weekly releases by the CBN to the Bureau de Change (BDCs) operators and the banks, the value of the naira against the dollar had continued to depreciate.

The House, therefore, resolved to setup an ad hoc committee to interact with the BDCs and other establishments that received foreign exchange directly from the CBN to give detailed explanation of how they utilised the forex.

The motion was adopted without amendment to its prayers after it was put to a voice vote by Yakubu Dogara, the speaker.

Comments (1)

  • Oride Sylvanus Oct 7, 2016 at 6:19 am Oride Sylvanus

    This is so funny why can’t the house first remove the log in their eyes before asking for the speck in CBN governor’s eyes to be removed

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