Monday, February 5, 2024

Breaking : Senate Summons CBN Governor on State of Economy , free fall of Naira

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The Senate on Wednesday through its committee on Banking , Insurance and other Financial Institutions , summoned the Governor of Central Bank of Nigeria ( CBN) , Olayemi Cardoso , to appear before it on Tuesday next week on state of economy and free flow of Naira at the forex market.

The Committee Chaired by Senator Adetokunbo Abiru ( APC Lagos East) , hurriedly met on Wednesday when Naira plummeted to N1,520 to a US dollar and resolved to summon the CBN governor on way out.

Speaking with journalists after the hurried meeting held behind closed door , Senator Abiru said the state of the economy, especially the inflation index was of great concern to the law makers.

He said “We have held a meeting this afternoon essentially to focus on the direction of the Nigerian economy .

“We are all living witnesses of what is going on. Underlining the major issue of the economy is the way the inflation index has been and of course it is a major concern to us .

“We have deliberated among ourselves. Critical issues were addressed and we believe that the next line of action is to summon the governor of the Central Bank on Tuesday at 3 O’clock to brief us properly on the state of the economy.

” That we have resolved and will communicate to the governor of the Central Bank after which we will have further communication with members of the press’

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