Yemi Cardoso, the governor of the Central Bank of Nigeria, CBN, has been called before the House of Representatives in relation to the removal of the FX embargo on 43 products.
Cardoso will testify before the House regulatory banking, finance, and customs committees.
This choice was made after a resolution of urgent public interest made by Katsina State lawmaker Sada Soli was adopted.
In his motion, Soli said that the CBN’s stance would have a detrimental effect on Nigeria’s economy, particularly on indigenous producers who would find it difficult to compete with foreign products.
The products in question, according to Soli, are essential to Nigeria’s diversification strategy.
“The importation of the items will give undue advantage to the middlemen,” Soli said.
The House consequently adopted the motion and passed the prayers after the Speaker, Abbas Tajudeen, put the motion to vote.