The Nigerian Senate has summoned the CBN Governor, Godwin Emefiele to its chambers next Tuesday to come and explain why the dollars is not trading for N305. The Punch reports Senate Leader, Ali Ndume disclosed his invitation was under matter of urgent national importance.

“As of today, the naira is exchanged for 305 to one dollar. In view of this worrisome situation and the fact that we all know that this country depends so much on imported materials and even food, there is a need for this Senate to, as a matter of urgency, invite or summon the governor of the CBN to explain this situation and to provide the necessary solution to this situation,”

It is apparent the Senate may not have been following events in the country as the drop in the price of oil has affected currencies of countries who rely on commodities as its major source of income. The CBN Governor had also in its most recent announcement that it will be excluding the BDC’s from sourcing forex from its windows accusing the latter of round tripping and not aiding the economy.

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