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Reps Divided Over Call To sack CBN Gov

Members of the House of Representatives were Wednesday divided over whether or not governor of Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, should be sacked, following the continuous fall of the naira in the parallel market. While some members asked the Presidency to remove the CBN governor, the Minority Leader, Leo Ogor, who represents Isoko Federal Constituency of Delta State, opposed the call.

 

 

Ali Isa had in a motion, Call for investigation of the Central Bank of Nigeria’s Forex Policies, noted that the lingering scarcity of foreign exchange in the country’s capital market had continued to weaken the naira to the point of its exchanging above N400 to a dollar. He further stated that the continuous weakening of the naira against the dollar and other foreign currencies had affected the cost of goods, services and production and consequently made life more difficult for most Nigerians. Contributing to the debate, Mojeed Alabi expressed dismay that the CBN governor, on several invitations, failed to appear before the House to rub minds with lawmakers on some of CBN’s policies.

 

 

Also, Wale Raji, while calling for the sack of the CBN governor, said Nigeria was the only country quoting “black market” figures as though they were official figures. “Who is in charge of our Forex, CBN or the black market? This is the only country in the world where the black market rate are quoted on television," he said But Leo Ogor, the Minority Leader of the House, kicked against the sack of the CBN governor, and called on the executive and legislature to work together on solution to the problem.

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