Senate quizzes CBN governor, Emefiele, over naira free-fall

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Emefiele 2The Senate on Tuesday grilled the governor of the Central Bank of Nigeria, Godwin Emefiele, on the state of the nation’s economy, particularly the falling value of the Nigerian currency.
Mr. Emefiele was invited, following a last Thursday’s resolution, to brief the Senate on the depreciation of the naira.
He, however, briefed the legislators in a closed-door session after the Senate Leader, Ali Ndume, so moved.
After the closed session, president of the Senate, Bukola Saraki, said the CBN governor briefed the Senate on foreign exchange and issues relating to national and global economy.
“Thereafter, the governor answered questions from Senators on these issues and other topical economic matters,” Mr. Saraki said.
According to Mr. Saraki, Mr. Emefiele had also clarified issues “regarding those speculating on foreign exchange market.”
Mr. Saraki also  quoted Mr. Emefiele as assuring that the “Central Bank has no intention to confiscate dollars that have been deposited.”
CBN will continue to support downward interest rate regime and policies that will diversify the economy, Mr. Saraki said, further quoting the CBN governor.

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