Sack CBN Gov, Emefiele Now - House of Rep Members Demand...Find Out Why

CBN Governor, Godwin Emefiele

 

In a motion entitled ‘Call for investigation of the Central Bank of Nigeria’s forex policies’, which was sponsored by Hon Ali Isa, some members of the federal house of representatives have today, October 5, called for the sack of the governor of Central Bank of Nigeria (CBN), Godwin Emefiele, and his entire team over the continuous fall of the naira at the parallel market.

 

Moving the motion of the sacking on the floor of the house, Isa said despite the weekly releases by the CBN to the Bureau de Change (BDCs) and the banks, the value of naira against the dollar had continued to depreciate.

 

According to The Cable News, Mojeed Alabi who contributed to the debate for the sacking of the CBN boss, expressed dismay that the CBN governor ignored several invitations to discuss some of the bank’s policies with the lower chamber.

“Over the falling of the naira, the CBN governor and his team should be sacked,” Alabi said.

 

While calling for the sack of the CBN governor, another lawmaker, Wale Raji, said Nigeria is the only country that quotes “black market” figures as officials.

“Who is in charge of our Forex CBN or the black market? This is the only country in the world where the black market rates are quoted on television. If Nigeria were to be a normal country, the CBN governor and his team should be sacked,” Raji said.

 

However, the minority leader of the house, Leo Ogor, kicked against the sack of the CBN governor, he said the legislature in conjunction with executive should find a solution to the problem. “The only thing we do is pay lip service,” he added.

 

The house resolved to set up an ad hoc committee to interact with the BDCs and other establishment that receive foreign exchange directly from the CBN, so that they can explain how they utilis the forex.

 

The house adopted the motion after it was put to a voice vote by Yakubu Dogara, the speaker