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Senate Plans to Engage CBN on Forex Sales to Petrol Marketers

SENATE CHAMBER DURING THE INAUGURATION OF THE 8TH NATIONAL ASSEMBLY IN ABUJA ON TUESDAY (9/6/15). 3023/9/6/2015/CH/BJO/NAN

Tope Oshin

The Senate has said it would engage the Central Bank of Nigeria (CBN) to ensure speedy sales of foreign exchange to marketers, so as to find lasting solutions to the perennial problem of fuel scarcity in the country, Leadership reports.

Chairman, Senate Committee on Downstream Mrs Uche Ekwunife, said this during the oversight function of the committees to some depots in Lagos. The chairman said that most of the depots visited lamented over the inability of marketers to buy foreign exchange to import petroleum products.

“We, the senate committee on downstream sector will ensure CBN is engaged to find a lasting solution to ways marketers can assess foreign exchange in banks to fast track importation. If marketers are able to assess the forex on time as at when due this would go a long way in addressing issues of fuel scarcity in the country,’’ she said.

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