The governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday, addressed the Senate over the nation’s current currency crisis.
Mr. Emefiele was invited, following a resolution last Thursday, to brief the Senate on the depreciation of the naira.
He, however, briefed the legislators in a closed-door session.
After the session, president of the Senate, Bukola Saraki, said the CBN governor spoke to the Senate about 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 would continue to support downward interest rate regime and policies that would diversify the economy, Mr. Saraki said, further quoting the CBN governor.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...
Discussion about this post