House of Representatives members The House of Representatives on Wednesday expressed concern over continuous fall of the naira against major currencies and resolved to investigate the foreign exchange transaction process. This was a sequel to a motion entitled “Call for Investigation of the Central Bank of Nigeria’s Forex Policies” sponsored by Rep. Ali Isa (PDP-Gombe). Moving the motion, Isa said that in spite of the weekly releases of foreign exchange by the Central Bank of Nigeria (CBN) to the Bureau de Change (BDCs) and the banks, the value of naira had continued to depreciate. Contributing to the debate, Rep. Mojeed Alabi (APC-Osun) expressed dismay that the CBN governor had continued to turn down invitations to him to the house to explain some of the fiscal policies to the legislators. According to him, for failing to honour the summons of the house over the falling value of the naira, the CBN governor and his team should be sacked. Also, Rep. Olawale Raji (APC-Lagos) dec...
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