Free Fall Of Naira:Senate Summons CBN Governor

The Senate on Wednesday summoned the Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso, to appear before it on Tuesday next week to answer questions on state of the economy and free fall of the Naira at the forex market.

The Chairman of the Senate committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru (APC Lagos East),disclosed this after the meeting of the committee on the heels of the fall of the naira to 1,520 to a US dollar

Speaking with journalists after the closed session, Senator Abiru said the state of the economy, especially the inflation index is of great concern to the lawmakers.

He added that the meeting became necessary, in order to discuss ways to revive the country’s economy .

Senator Abiru says the committee deliberated on Critical issues which centers on addressing the economic challenges.

He said:“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 Central Bank on Tuesday at 3 O’clock to brief us properly on the state of the economy.

“That 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.”

BY:LUCKY KENEDY ABUJA