By Charles Igwe
The Senate has called upon Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), to appear before them next Tuesday to address concerns regarding the state of the economy and the fluctuating Naira in the forex market. The summon was initiated through Senator Adetokunbo Abiru, who heads the Senate Committee on Banking, Insurance, and Other Financial Institutions.
In response to the sudden surge in the Naira to N1,520 against the US dollar, the committee held an urgent meeting behind closed doors on Wednesday. Senator Abiru, addressing journalists afterward, highlighted the lawmakers’ significant worries about the economy, particularly the rising inflation index.
He stated, “We have deliberated on the current state of the Nigerian economy. The prevailing inflation index is a major concern. After thorough discussions, we have decided to summon the CBN governor on Tuesday at 3 o’clock to provide us with a detailed briefing on the state of the economy. We will communicate this resolution to the CBN governor and further engage with the press thereafter.”
