The Senate has summoned the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to explain the depreciation of the Naira and its implications for the Nigerian economy.
Federal lawmakers expressed concern that the Naira had depreciated in the last few months at a much faster rate than it had appreciated over the last two years.
The federal lawmaker, who moved the motion raised an alarm that the illicit fund flows and money laundering going through the Nigerian financial system is contributing to weakening the value of the Naira.