The House of Representatives has urged the Central Bank of Nigeria to make the necessary changes to its monetary policy in order to stop the Naira from plummeting.
Additionally, it forewarned the federal government against an overstaffed cabinet, unnecessary spending, oil theft, and currency speculators.
In June 2023, President Bola Tinubu through the CBN announced changes to the nation’s foreign exchange market.
The intent was to allow market forces determine naira value.
But the alarming exchange rate has impacted Nigeria’s economy, causing untold hardship due to increased demand for dollars leading to dollar shortage.
With the naira exchanging for as much as N1060 to a dollar, Ismalia Dabo, in his motion, says there is need for an immediate intervention to arrest the continued free fall of the naira.
Other lawmakers want the Finance Minister and the CBN Governor invited and wondered why other foreign currencies are stronger than the Naira
The Ifon/Ilobu communal crisis in Osun state is now a subject of investigation with a view to averting a recurrence
The House also moved to investigate the untimely death of a medical doctor on duty at the Lagos University Teaching Hospital
Among otherlegislative businesses of the day was the adoption of a motion seeking to investigate alleged mismanagement of funds and other irregularities in the operations of the national health service insurance authority, NHIA.
