The Nigerian senate has commended CBN governor, Godwin Emefiele’s defending of Naira policies and the country’s economy.
Godwin Emefiele had been summoned by the Senate last week, raising concerns over the dwindling value of the Naira. The Naira closed at N305 to the dollar last weekend.
However the CBN governor defended his actions well, according to the Chairman, Senate Committee on Information, Aliyu Sabi Abdullahi.
According to him, the situation was the same all over the world.
“Following an exhaustive response by the Governor and his team, the Senate acknowledged that these are indeed difficult times all over the world and not just in Nigeria.
“The Senate also acknowledged the pains that many people may be facing at this time, especially in light of shortages of foreign exchange for legitimate business.
“But having carefully considered the policies of the CBN, the Senate would like to commend and support these policies because they are mostly geared towards increasing local production, creating jobs, safeguarding our commonwealth and expanding economic opportunities and growth in Nigeria.”
