In response to the Naira’s fast slide and the extreme inflation, the Senate called Mr. Olayemi Cardoso, the governor of the Central Bank of Nigeria, on Wednesday.
The summons came from Senator Adetokunbo Abiru’s Committee on Banking, Insurance, and Other Financial Institutions.
The governor was invited to come on Tuesday of the next week to discuss the current status of the economy and the unrestricted movement of the Naira on the foreign exchange market.
The Committee at a meeting on Wednesday expressed concern over the endless weakling of the Naira that saw it rose to N1,520 to a US dollar as at Wednesday.
Speaking with journalists after the meeting held behind closed door at the National Assembly, Senator 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 this afternoon essentially to focus on the direction of the Nigerian economy.
“Everyone of us is a living witness to what is occurring.
“The way the inflation index has been, which is of course a huge concern to us, underscores the major issue of the economy.
We’ve discussed it between us. After important issues were handled, we think the next course of action should be to call in the governor of the Central Bank on Tuesday at 3 p.m. so that he can adequately update us on the status of the economy.
