The Senate has invited the governor of the Central Bank of Nigeria, Godwin Emefiele, to the red chamber over the devaluation of the naira.
Reports uncovered a US dollar is traded at N658 in the parallel market on Wednesday.
The devaluation of the Naira fuelled the legislators’ decision to welcome the CBN governor following a motion by Senator Olubunmi Adetunmbi, Senator, Ekiti north.
Adding to the discussion, Sani Musa, Senator representing Niger east, said the naira would appreciate provided that the nation become economically productive.
“Let’s eat what we have; let’s do with what we have. Naira will continue to appreciate until we start manufacturing,” Musa said.
On her part, Biodun Olujimi, senator representing Ekiti south, accused the CBN of not taking responsibility which has led to the crash of naira.
“Someone should be able to say I have failed, and that is the CBN,” Olujimi said.
“Most of what is happening is because people are taking out the dollar and selling and bringing them back in — we should be penalising somebody for what has happened to the naira-dollar rate..”
“The opportunity has arrived for us to look comprehensively into what’s going on. What is befalling the dollar is a replica of what is befalling Nigeria.”
The Red Chamber requested the apex bank to prevent the express crumbling worth of the Naira.
