Human rights lawyer Femi Falana said the Central Bank of Nigeria (CBN), has been dragged to court over the floating of Naira currency.
Falana disclosed this while speaking in an interview on Channels Television on Friday.
Recall that the apex bank reportedly told Deposit Money Banks to freely float the naira against the dollar and other international currencies in June.
The policy was announced at a time when the naira traded between 730 and 755 to the dollar at the Investors and Exporters (I&E) window.
But, Falana described the decision of the CBN to float the naira as ‘illegal’ and being challenged in court.
He said, “There’s no provision for floating the naira. It’s illegal. You say, ‘The value of the naira will be determined by market forces.’ That is not there in the law,” he said.
