The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been called before the Senate to testify before it on Tuesday by the committee on Banking, Insurance, and Other Financial Institutions.
He is supposed to brief the Senate on the status of the economy and the free movement of Naira on the foreign exchange market. Sen. Adetokunbo Abiru, the Committee Chairman, revealed this to the media on Wednesday in Abuja following a meeting behind closed doors.
According to Abiru, the parliamentarians were quite concerned about the status of the economy, particularly the inflation index. “We have gathered this meeting primarily to discuss the trajectory of the Nigerian economy,” he said.
“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 CBN on Tuesday at 3 pm, to brief us properly on the state of the economy.
“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.”
