Senate invite Emefiele over financial devaluation
BREAKING: Senate to invite Emefiele over naira devaluation 27th July 2022 CBN Governor, Godwin Emefiele The Senate, on Wednesday, resolved to summon the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, to educate and inform senators in a closed session on the reasons for the rapid depreciation of the value of the naira. It also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of the CBN intervention funds meant to support critical sectors of the economy. The resolutions were reached by lawmakers after the upper chamber considered a motion sponsored by Senator Olubunmi Adetunmbi (All Progressives Congress – Ekiti North). The motion was titled, “State of the CBN Intervention Funds and Free Fall Of Naira. Coming under Order 41 and 51 of the Senate Standing Order, as amended, Adetunmbi bemoaned Nigeria’s economic reality amid an urgent call for “extraordinary measures.” He noted that the CBN, through its nume...