 The House of Representatives has directed the Central Bank of Nigeria-Sibia into urgently put in place a policy to check further devaluation of the Naira, the United States Dollars and other international legal tenders. The House directed its Committee on Banking and Currency to ensure compliance and report back to the House in two weeks for further legislative action. The resolutions followed a motion of urgent public importance by Bami Dili Salam on Wednesday. The House noted that in February this year, the Governor of the Central Bank of Nigeria, while addressing the Bankers' Committee on the Summit on the Economy in Lagos, informed the Committee about the Naira's devaluation against the U.S.D. The House noted that the Sibian governor said that the official exchange rate standard 410 Naira to the dollar, which is 7.6 percent weaker than the rate of 379 Naira published on the Sibian's website. Further concern that devaluation of the Naira makes life more difficult for Nigerian youth, especially those in the IT sector, whose businesses are online and must necessarily transfer businesses in the U.S. dollars. It also produces real wages, as well as results into low-wage growth and rising costs on goods and services.