{"id":44823,"date":"2021-06-10T12:15:43","date_gmt":"2021-06-10T11:15:43","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar"},"modified":"2021-06-10T13:12:10","modified_gmt":"2021-06-10T12:12:10","slug":"devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar","title":{"rendered":"Devaluation: Reps cautions CBN as Naira weakens against Dollar"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/nigeria\">Nigeria<\/a>. <\/strong><\/span>The House of Representatives has asked the Central Bank of Nigeria (CBN) to put policies in place to defend Naira from losing further value against the Dollar.<\/p>\n<p>The green chamber made the resolution on Wednesday, following a motion moved by Bamidele Salam from Osun State.<\/p>\n<p>Naira has been struggling against major currencies around the world. This has reflected in the prices of commodities.<\/p>\n<p>In his motion, Bamidele said the Naira has lost 9% of its value in the past 6 months.<\/p>\n<p>Port Harcourt refinery will commence operation in 18 months \u2013 Sylva<\/p>\n<p>He noted that the currencies of other African countries are gaining against the Dollar.<\/p>\n<p>\u201cWhile the value of the Nigerian Naira relative to the US Dollar has declined by 9% in the last 6 months, the South African Rand and Ghanaian Cedi have appreciated by 11.4% and 1%, respectively,\u201d he said.<\/p>\n<p>Consequently, the House mandated the committee on banking and currency to ensure compliance and report back in 2 weeks.<\/p>\n<p>Insecurity: Where\u2019s $1 billion you withdrew to purchase arms \u2013 Wike questions Buhari govt<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The House of Representatives has asked the Central Bank of Nigeria (CBN) to put policies in place to defend Naira from losing further value against the Dollar. The green chamber made the resolution on Wednesday, following a motion moved by Bamidele Salam from Osun State. Naira has been struggling against major currencies [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":44822,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,503,4495,1621,1623,254,1589],"class_list":["post-44823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-devaluation","tag-dollar","tag-naira","tag-nigeria","tag-reps"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Devaluation: Reps cautions CBN as Naira weakens against Dollar - Nigeria<\/title>\n<meta name=\"description\" content=\"The House of Representatives has asked the Central Bank of Nigeria (CBN) to put policies in place to defend Naira from l ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devaluation: Reps cautions CBN as Naira weakens against Dollar\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives has asked the Central Bank of Nigeria (CBN) to put policies in place to defend Naira from l ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-10T11:15:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-10T12:12:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/06\/img-60c2016000e0b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Devaluation: Reps cautions CBN as Naira weakens against Dollar\",\"datePublished\":\"2021-06-10T11:15:43+00:00\",\"dateModified\":\"2021-06-10T12:12:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\"},\"wordCount\":178,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/06\/img-60c2016000e0b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"devaluation\",\"Dollar\",\"naira\",\"Nigeria\",\"Reps\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/devaluation-reps-cautions-cbn-as-naira-weakens-against-dollar\",\"name\":\"Devaluation: Reps cautions CBN as Naira weakens against Dollar - 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