• Reps probe central bank over forex crisis

    Reps probe central bank over forex crisis

    Members of the House of Representatives were angry on Wednesday as they ordered an investigation into the scarcity of foreign exchange in the country.

    The naira, which exchanged for N490 to the United States dollar last Thursday on the parallel market, was offered at N475 per dollar on Wednesday, amid biting scarcity of hard currencies.

    The House observed that in spite of weekly reports by the Central Bank of Nigeria that it released hard currencies to Bureau De Change operators and commercial […]