Lagos House of Assembly expressed concern over the naira’s continued depreciation against the dollar. As at Tuesday, a dollar hovered at N1,500 and the lawmakers, at plenary, advised the federal government and the Central Bank of Nigeria (CBN) to take bold steps to shore up the value of the naira….CONTINUE READING
Part of the resolutions by the House was that the federal government should come up with a mechanism to reduce foreign trips for seminars and conferences by ministries and agencies adding that this should apply to states and some business trips that can be done locally.
While stressing the need to strengthen security across the nation, the House also called on the CBN “to embark on sensitisation of Nigerians on the steps being taken by the apex bank to reduce the pressure on naira while informing on the expected roles of Nigerians at this time.”
The Assembly urged that depositors of dollars in banks be engaged in an acceptable arrangement where the government can utilise such funds to help reduce pressure on the naira.
Obasa, who further commended the National Assembly for inviting the CBN governor for discussion recently, said: “In my opinion, the CBN and government should embark on sensitisation and information dissemination to make people understand what the government is doing, to construct more on our local trading and export policies.
The pressure on the naira is too much, but the CBN should ensure that national interest is supreme.”
