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The Senate on Wednesday indicated interest to interrogate the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over the slide in Naira exchange rate against the US Dollar.

The Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru (APC Lagos East), mandated the Apex Bank Boss to appear before the committee of the Upper Chamber on Tuesday, February 6.

The Senate Panel had met in an emergency session to discuss the downward spiral of the Naira (N1,520 to US $1), and resolved to summon the CBN Governor on the way out.

Senator Abiru, after the panel meeting, told journalists that the meeting would review the state of the economy, especially the inflation index was of great concern to the law makers.

He said “We have held a meeting this afternoon 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 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”



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