The House Committees on Banking and Currency; Finance; Diaspora; Basic and Tertiary Education have been mandated by Yakubu Dogara, speaker, House of Representatives, to liaise with government agencies to look into the current challenges in the country’s foreign exchange market and come up with solution.
Dogara said that recent monetary and fiscal policies aimed at preventing money laundering and protecting the Naira “have resulted in avoidable hiccups in our international financial transactions with multifaceted counter-productive implications for both commerce, foreign investor promotion and diaspora Nigerians, including students.”
He said there is need for intervention by the House because it is a matter of urgent national importance.“The House Committees on Banking and Currency; Finance; Diaspora and both Basic and Tertiary Education are hereby directed to quickly put their heads together and collaborate with the relevant executive agencies to expeditiously resolve the prevailing bottlenecks in our foreign exchange regime,” Dogara said.
By Dike Onwuamaeze