The Senate’s Committee on Banking, Insurance, and other Financial Institutions has summoned the Governor of the Central Bank of Nigeria, Olayemi Cardoso, to appear before it next Tuesday to address concerns about the state of the economy and the free fall of the naira in the forex market.

Senator Adetokunbo Abiru, who chairs the committee, announced this decision after a meeting held on Wednesday. 

He emphasized the urgency of the situation, particularly noting the alarming inflation index and the plummeting value of the naira.

In a statement to journalists following the closed-door session, Senator Abiru stated, “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.”

He further added, “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.”