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BREAKING: Senate Summons Emefiele As Naira Crashes Further

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The Senate has summoned the Governor of the Central Bank of Nigeria, Godwin Emefiele, over naira devaluation and the persisting inflation that has rocked Nigeria, plunging Nigerians into hardship.

The lawmakers at a plenary session on Wednesday demanded an answer from the CBN governor.

Stakeholders in key sectors of the economy expressed worry over the free fall of the naira against the United States Dollar.

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The resolution of the Senate followed a motion moved by Senator Olubunmi Adetunmbi, representing Ekiti North Senatorial District at plenary.

The naira, as of Wednesday, crashed further in the parallel market, trading for N710 against the U.S. dollar on the exchange platform Aboki Forex.

The national currency, which traded for N670 against the dollar on Monday, has fallen even further by 6.7 percent in two days as of Friday afternoon, according to data from Aboki Forex.

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