The Governor of Central Bank of Nigeria, Godwin Emefiele, has appeared before the Senate to explain the continued fall in the value of the Naira.
Reporters were not allowed to cover the meeting as it was held behind closed doors on Tuesday.
The Senate, on Thursday, January 14, summoned Mr Emefiele after expressing concern that the continued crashing of the Naira against the dollar is worrisome and stressing that a decisive action must be taken about it.
A source told Channels Television that at the meeting, the CBN Governor explained to lawmakers why the apex bank stopped the sale of Forex to Bureau the Change agents.
Senate spokesman, who briefed reporters after the closed door meeting, said that Mr Emefiele gave an account of the performance of the Nigerian economy in the last one year.
The summon came on the heels of point of order raised by the the Senate Majority Leader, Senator Ali Ndume.
According to Senator Ndume, the matter was discussed with the Senate President, Bukola Saraki, as required by the Standing Rules of the Senate.
The Senate Leader said: “This is a matter of urgent national importance and it has to do with the continued fall of the Naira against the dollar.
“It is my considered opinion that we invite the Governor of the Central Bank of Nigeria to come here and explain to us why it is so and what he is going to do about it”, he declared.
Nigeria’s Naira exchange rate is currently 310 Naira to a dolla.
