The Senate, on Wednesday, through its Committee on Banking, Insurance and other Financial Institutions, summoned the Governor of Central Bank of Nigeria, Olayemi Cardoso, to appear before it on Tuesday next week to answer questions on the state of the economy and the free fall of naira in the forex market.
The Committee, chaired by Senator Adetokunbo Abiru (APC Lagos East), met on Wednesday when the naira plummeted to N1,520 to a US dollar and resolved to summon the CBN governor on the way out.
Speaking with journalists after the meeting held behind closed doors, Abiru said the state of the economy, especially the inflation index, was of great concern to the lawmakers.
He said the meeting was held essentially to focus on the direction of the Nigerian economy noting that underlining the major issue of the economy is the way the inflation index has been and of course, it is a major concern to all and sundry.
Abiru disclosed that Critical issues were addressed and the committee believed that the next line of action is to summon the Governor of the Central Bank on Tuesday at 3 O’clock to brief them properly on the state of the economy.
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