The House of Representatives has called for the immediate removal of Central Bank of Nigeria's Governor for insincerity and incompetence in the manner its handling the Foreign Exchange Currency (FOREX) policies.
The Lawmakers also frowned at the failed policies of the CBN which they said have contributed to the suffering presently experienced by citizens.
The matter came by way of a motion presented by Rep. Ali Isa from Gombe State.
He said the lingering scarcity of foreign exchange in the country's capital market, has continued to weaken the naira.
Rep. Isa also said the continuous weaking of the naira against the dollar and other foreign currencies has affected the cost of commodities, goods, services and production.
He also notes that the claims by CBN that it issues FOREX to Burea De Change (BDCs) and Banks directly every week at the official rate of N197 to one dollar is not realistic.
Rep. Mojid Alabi also spoke in favour of the motion, that the CBN governor should be sacked for incoherent in the monetary policies which he presides over.
Rep. Dolapkpo Wale further reiterated that the high level of corruption and incompetence exhibited by CBN has brought untold hardship on Nigerians. He also suggested a thorough investigation of CBN as far as FOREX is concerned.
House Minority Leader, Leo Ogor whilst contributing to the debate called on his colleagues to trail softly pending the outcome of the investigation.
According to Ogor, " I say no to those calling for the sack of the CBN governor, it is only when we investigate and find out who failed to crossed the "T's" and dot the "I's". It also beholds on us as the representatives of the people to know where the truth lies",he submitted.
The house resolved to invite the CBN in order to obtain the list. Of establishments that were issued with FOREX at subsidized rate from 2015.
The house further resolved to extend its invitation to BDC and banks and other establishments that receive FOREX from CBN to give detailed explanation of how they utilize it.
The above establishments shall be meeting with the Committee on Banking and Currency whereby report will be presented to the general house within 4 weeks.
0 comments: