Senate summons CBN Gov. on state of economy

The Senate,through its committee on banking, insurance, and other financial institutions, has summoned the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before it on Tuesday.

He is to explain the state of the economy and the free flow of naira in the forex market to the Senate.

Chairman of the Committee, Sen. Adetokunbo Abiru, made this known while speaking to journalists on Wednesday in Abuja after a closed-door session.

Abiru said the state of the economy, especially the inflation index, was of great concern to the lawmakers.

He said, “We have held a meeting essentially to focus on the direction of the Nigerian economy.

“We are all living witnesses to what is going on. Underscoring 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 p.m. to properly brief us on the state of the economy.

“We have resolved and will communicate with the governor of the central bank, after which we will have further communication with members of the press.”