{"id":50458,"date":"2021-09-21T15:10:22","date_gmt":"2021-09-21T14:10:22","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira"},"modified":"2021-09-21T15:53:36","modified_gmt":"2021-09-21T14:53:36","slug":"house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira","title":{"rendered":"House of Reps member accuses CBN of deliberately devaluing Naira"},"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>A House of Representative member, Bamidele Salam (PDP-Osun), has called on the Central Bank of Nigeria (CBN) to stop the continuous fall of the value of Naira against the dollar.<\/p>\n<p>Salam, in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, decried the continuous devaluation of the Naira, saying that the Nigerian currency was doing badly when compared to other currencies of the world.<\/p>\n<p>As of the time of filing this report, a dollar was valued at N567 in the parallel market while the official price was N410 to a dollar.<\/p>\n<p>The lawmaker said the CBN should do something urgent about the situation to save the players in the Nigerian economy.<\/p>\n<p>\u201cThough the value of the naira is a functionality of many things, it appears to me that there is a deliberate policy of the CBN to devalue the naira consistently.<\/p>\n<p>\u201cThis is very worrisome because of its effect on trade, investment and on the consumption of goods and services both locally and those imported which depend on raw materials.<\/p>\n<p>\u201cAre we saying that the Ghanaian economy, the Sierra Leonean economy, the Nigerian economy is doing better than the Nigerian economy? The Niger currency is doing better in the international market than the naira is in the last six months.<\/p>\n<p>\u201cAre we saying that the economy of Liberia and the economies of all these countries are doing better than that of Nigeria?<\/p>\n<p>\u201cWhy will we continue to look on and continue to have this free fall; in the parallel market today, a dollar is over N500,\u2019\u2019 he said.<\/p>\n<p>He said he had approached the House to urge the CBN to take the urgent steps and that the House Committee on Banking and Currency should liaise with the CBN on the matter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. A House of Representative member, Bamidele Salam (PDP-Osun), has called on the Central Bank of Nigeria (CBN) to stop the continuous fall of the value of Naira against the dollar. Salam, in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, decried the continuous devaluation of the Naira, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":50457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,29,28,14,26],"tags":[1570,2140,503,254,1589],"class_list":["post-50458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","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>House of Reps member accuses CBN of deliberately devaluing Naira - Nigeria<\/title>\n<meta name=\"description\" content=\"A House of Representative member, Bamidele Salam (PDP-Osun), has called on the Central Bank of Nigeria (CBN) to stop the ...\" \/>\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\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House of Reps member accuses CBN of deliberately devaluing Naira\" \/>\n<meta property=\"og:description\" content=\"A House of Representative member, Bamidele Salam (PDP-Osun), has called on the Central Bank of Nigeria (CBN) to stop the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-21T14:10:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-21T14:53:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6149f1d36e07a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\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\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"House of Reps member accuses CBN of deliberately devaluing Naira\",\"datePublished\":\"2021-09-21T14:10:22+00:00\",\"dateModified\":\"2021-09-21T14:53:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\"},\"wordCount\":308,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/09\/img-6149f1d36e07a.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"Nigeria\",\"Reps\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"Policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/house-of-reps-member-accuses-cbn-of-deliberately-devaluing-naira\",\"name\":\"House of Reps member accuses CBN of deliberately devaluing Naira - 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