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Emefiele Reps members call for CBN Gov sack over devalued Naira

Members of the House of Reps have called for the sack of Godwin Emefiele and his team at CBN over the falling Naira.

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Governor Godwin Emefiele play Governor Godwin Emefiele announces that Nigeria's central bank is keeping its benchmark interest rate on hold at 13 percent in Abuja, Nigeria, July 24, 2015. (REUTERS/Afolabi Sotunde)

The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has been blamed for the continuous fall of the Naira at the parallel market.

A fresh report by The Cable stated that some members of the House of Representatives have called for the sack of Emefiele and his team after heaping the blame on him.

It was reported that the call for Emefiele's sack was ignited by Honourable Ali Isa, who moved a motion entitled ‘Call for investigation of the Central Bank of Nigeria’s forex policies.’

The motion led to contributions from Hon. Mojeed Alabi and Wale Raji amongst others who debated the motion.

Hon. Alabi reportedly showed his surprise at how the CBN governor ignored several invitations by the House to discuss some of the bank’s policies and concluded Emefiele should be sacked.

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

In his remark, Hon Raji said: “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.

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However, the minority leader, Leo Ogor, kicked against Emefiele's sack saying lawmakers 'only thing we do is pay lip service' instead of working with the executive to find a lasting solution to problems such as the failing Naira.

The house, which was presided over by Speaker, Yakubu Dogara, resolved to set up an ad hoc committee to interact with the Bureau De Change operators and other establishment that deal in forex to explain how they utilise the subsidised forex from CBN.

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