Senate Summons CBN Governor Cardoso Over Naira Free Fall
In a bid to address growing concerns about the state of the economy, particularly the alarming depreciation of the Naira, the Senate has summoned Dr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN).
The summons was issued by Senator Tokunbo Abiru, the Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, after an emergency meeting held behind closed doors in Abuja.
Read Also:Â NLC Clarifies Why N200k Minimum Wage Is No Longer Realistic
Expressing apprehension about the economic landscape, especially the inflation index, Senator Abiru briefed reporters, stating, “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.”
Pay Attention To Security: Ten States Gets New Commissioners of Police
In response to these concerns, the Senate committee has decided to convene with the CBN Governor to gain insights into the current economic conditions.
The summon comes at a time when the Naira has reportedly experienced a significant decline, reaching approximately N1,500.00 to the US dollar.
Pay Attention To:Â Four Nigerian Nationals Arrested After Budding Rapper Falls To His Death From 5th Floor Nairobi Apartment (Video)
The Senate aims to engage in a comprehensive dialogue with Governor Cardoso on Tuesday at 3 pm to obtain a thorough briefing on the state of the economy. Senator Abiru affirmed, “Critical issues were addressed, and we believe that the next line of action is to summon the Governor of the Central Bank of Nigeria.
This move highlights the Senate’s commitment to addressing economic challenges and fostering transparency in collaboration with key stakeholders such as the CBN.
As the session unfolds next week, it is anticipated that the discussions will shed light on potential strategies to mitigate the free fall of the Naira and steer the economy toward stability.
