Senate summons CBN governor, Cardoso, on state of economy

The Senate, through its committee on Banking, Insurance and other Financial Institutions, has summoned the Governor of 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 at the forex market to the Senate.

Chairman of the Committee, Senator 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 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.”