In response to the recent plunge of the naira to N1,520 against the US dollar, the Senate’s Committee on Banking, Insurance, and other Financial Institutions has summoned the Governor of the Central Bank of Nigeria, Olayemi Cardoso.
The committee, led by Senator Adetokunbo Abiru (APC Lagos East), convened on Wednesday to address growing concerns about the state of the economy, particularly the escalating inflation index.
Following a closed-door meeting, Senator Abiru expressed the committee’s worry about the economic situation and announced plans to engage Governor Cardoso in a session scheduled for next Tuesday at 3 p.m.
Addressing journalists after the meeting, Abirun stated, “We have held a meeting this afternoon essentially to focus on the direction of the Nigerian economy.
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“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,” he added. #Naira