The Senate, on Tuesday, January 19, prevented National Assembly correspondents and Nigerians following the legislative proceedings via live television broadcast from watching the briefing by Central Bank Governor, Godwin Emefiele on Naira depreciation.
Emefiele was invited by the Senate following last Thursday’s resolution to brief the Senate on the depreciation of Naira.
The depreciation of Naira is a national economic issue that affects most Nigerians.
As the Naira continues to fall, Nigeria appears to have lost control over fixing of exchange rate.
Price at which Naira exchanges to Dollar depends on the decision of banks, BCDs and even commercial outfits like airlines.
After the Senate President, Bukola Saraki, had read President Muhammadu Buhari’s letter notifying the Senate of the corrected draft budget, the Senate leader, Ali Ndume moved that the Senate dissolved into closed door session to receive Emefiele for his briefing.
The development instantly sparked condemnation from journalists who questioned why the Senate’s decision when the subject is not security matter.
Last week, the Naira plummeted to N300 – $1 on the parallel market. Emefiele came under fire over the slump of the Naira as some Nigerians blamed his policies for the free fall of the currency.
Following the fall in Naira, a former member of House of Representatives, Bamidele Faparusi, has called for the immediate removal of the CBN governor.
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