• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

Lawmakers Summon CBN Governor as Dollar Hits N700

by Yinka Okeowo
July 27, 2022
in Finance
0
UBA
Advertisements

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has been summoned by lawmakers over the continuous depreciation of the Naira.

According to reports, Naira is currently trading between N690 and N700 per Dollar in the parallel market, a situation that has generated an uproar amongst Nigerians.

Buba Babangida, a black market operator at Ajao Estate, Lagos confirmed to TechEconomy on a call that the Dollar was being traded at N685 on Wednesday.

In view of the development, Lawmakers were of the opinion that the Naira would depreciate further if Africa’s largest economy continues to consume without producing.

However, they accused the CBN of taking responsibility to defend the Naira.

The Upper Legislative Chamber asked the apex bank to stop the rapid decline of the value of the Naira.

Biodun Olujimi, Senator representing Ekiti South said: “Most of what is happening are because people are taking out the dollar and selling and bringing them back in — we should be penalizing somebody for what has happened to the naira-dollar rate.

“The time has come for us to look holistically into what is happening. What is happening to the dollar is a replica of what is happening to Nigeria.”

The motion was adopted after Senate President Ahmad Lawan put it to a voice vote.

Loading

Advertisements
MTN ADS

Author

  • Yinka Okeowo
    Yinka Okeowo

    View all posts
0Shares
Tags: CBNDollar
Yinka Okeowo

Yinka Okeowo

Next Post

Open Forest Protocol (OFP) Goes Live on NEAR Protocol to Onboard Forestation Projects

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

gamers and mental health

Gamers Live ‘Dual Lives’

2 years ago

Old Mutual Nigeria Launches Digital Platform for Insurance Brokers

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.