The Senate Committee on Banking, Insurance, and other Financial Institutions has issued a summons to CBN Governor, Mr. Olayemi Cardoso, compelling him to address the committee next Tuesday regarding the recent drastic depreciation of the naira and the overall state of the economy.
Chairman of the committee, Senator Adetokunbo Abiru (APC Lagos East), revealed the decision after an emergency meeting held behind closed doors on Wednesday.
Concerns over the nation’s currency, which recently dropped to N1,530 to a US dollar on the parallel market, prompted the urgent meeting.
Abiru expressed the legislators’ apprehension about the economy, particularly the inflation index.
He stated, “Critical issues were addressed, and we believe that the next line of action is to summon the CBN governor.”
