Mohammed Shosanya
The Senate on Wednesday summoned the Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso to appear before it next Tuesday over the state of economy and free flow of Naira at the forex market.
The Senate committee on Banking, Insurance and other Financial Institutions, which summoned the CBN Governor, expressed concern over the continued falling of the naira.
The naira had fell to N1,520 to a US dollar, a development that made the Senate to summon the CBN Governor.
Speaking with newsmen shortly after their closed door meeting, the Chairman, Senate committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru ( APC Lagos East), said the state of the economy, especially the inflation index was of great concern to the lawmakers.
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.”
