Posted on: 12:56 Wed, 20 Jan 2016



The President of the Senate, Dr. Abubakar
Bukola Saraki, on Tuesday disclosed that the Central Bank of Nigeria has no intention of confiscating dollars that have been deposited.

Saraki made this known after a closed-door session with the CBN Governor, Godwin Emefiele, which lasted for two hours.

Saraki quoted Emefiele as promising that the “Central Bank has no intention to confiscate dollars that have been deposited”.

It could be recalled that Emefiele was invited following a resolution last Thursday to brief the Senate on the depreciation of the naira.

After the session, Saraki said the CBN governor spoke to the Senate about foreign exchange and issues relating to national and global economy.

“Thereafter, the governor answered questions from Senators on these issues and other topical economic matters,” Saraki said.

According to Saraki, Emefiele had also clarified issues “regarding those speculating on foreign exchange market”.

Briefing newsmen on the outcome of the
meeting, the Senate Committee Chairman on Media and Public Affairs, Senator Aliyu Sabi, said Nigeria needs both short and long term solution towards bringing back the economy on track.

Sabi said the Senate was convinced that the policies being put in place by the CBN are in the right direction since they were geared towards increasing local production, creating jobs, expanding economic opportunities and growth as well as safeguarding the Nigeria’s commonwealth.