The Senate, on Wednesday, said the free fall of the Naira was as a result of the border closure by the federal government.
The Senate, however, advised the executive arm of government to open the borders to ease business operations within the country.
He also pointed out that without adequate circulation of goods and services, revenue earnings would stagnate, a situation he explained, was responsible for the free fall of the Naira.“The Naira is on a free fall against major global currencies because of the closure of our borders. If our borders are not opened, how would goods and services be exchanged? If Nigeria, a big market, is not dealing with exchange of goods and services, how would she earn funds?” he queried.
“Our mandate is clear. To oversight parastatals and agencies within the line of the Ministry of the Trade and Investment. And that we will do excellently, with a view to providing the expected legal backings and framework.
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