Business
Senate invites Emefiele as exchange rate of Naira falls to N700 to Dollar
The Senate of the National Assembly on Thursday passed a resolution to invite the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to account for the unrestrained depreciation of the Naira to the dollar in the foreign exchange market.
The Naira as at Thursday morning, was exchanging for over N700 to a dollar in the parallel markets. On Tuesday into Wednesday, the Naira was exchanged between N720 and 750 to a dollar.
The Senate, in the resolution on a motion on ‘the state of CBN Intervention funds and the free fall of the naira’, directed the Committee on Banking, Insurance and Other Financial Institutions to investigate the effect of CBN intervention funds to support critical sectors of the economy.
Senator Olubunmi Adetunmbi sponsoring the motion expressed the need for extraordinary measures to address the crisis of the Nigerian economy.
-
Education5 days agoUniversity of Ibadan releases 2026/2027 post-UTME screening results
-
Football5 days agoUnpaid £185m Club World Cup fund sparks fresh FIFA controversy
-
Business7 days agoInformation Minister, VON DG to lead ARCON’s 2026 Advertising Industry Colloquium
-
Aviation6 days agoCanada issues 10 key tips to help immigration applicants avoid processing delays
-
Business1 week agoCooking gas dealers slash prices amid intensifying market competition
-
Business4 days agoBreaking: NNPCL reduces pump price of petrol as competition intensifies
-
Politics1 week agoKenneth Okonkwo questions INEC’s credibility, calls for reforms ahead of 2027 polls
-
Latest6 days agoFubara’s early push for political structure triggered rift – Wike