 The use of the U.S. dollar and other foreign currencies as legal tender for domestic transactions in Nigeria is under probe, according to Tuesday order from the House of Representatives sent to the Committee on Banking Regulation. The House of Representatives also urged the Central Bank of Nigeria to address Naira's discrepancies and depreciation value in relation to the dollar and other currencies. The House requested the CBN to alter monetary policy to stabilize the Naira, address speculative activity on the foreign exchange market, and raise the Naira's withdrawal cap to lessened pressure on dollar and other foreign currencies. It also urged the Federal Government to develop structural changes and measures to fight corruption and advance the nation's economy's diversification. The House additionally urged the Federal Government to increase foreign investors' confidence in its fiscal and monetary policies to stimulate exporting and decrease importing. It instructed the National Security and Intelligence Committee and the Committee on Banking Regulations to communicate with the Nigerian Central Bank to launch compliance efforts. These resolutions were passed when the Honourable Ismaila Dabo's motion was approved. To urge the Central Bank of Nigeria to implement monetary policy adjustment to stabilize the currency, address speculative activities in the foreign exchange market, and increase the withdrawal limit of Naira to reduce pressure on dollars and foreign currencies. Today, if you want to travel to this country, you are forced to pay in effects, you are forced to pay in dollars. You find out that it charges equivalent of about 3.7 million Naira here to buy an economic ticket to travel to for a six-hour flight. But those coming from the UK for instance, we can pay far, far less when they are paying in palm sterling. Let's invite even the CBN Governor, Minister of Finance, as a house. It is our responsibility to hold those that are driving these policies, to hold them to account that, look, let's see your policy document in respect to the economy. Because it will continue like that. Tomorrow, the dollar will be 1,500 and we'll just be smiling. Subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.