Senate Committee Questions CBN Governor About Difficulties in the Economy, Naira Drops

With the participation of representatives from the Central Bank of Nigeria (CBN), which is headed by Governor Yemi Cardoso, and the Economic Management Team, the Joint Senate Committee on Finance, Banking, Insurance, and Financial Institutions has started an interactive session.

This meeting was scheduled in reaction to the dire situation of Nigeria’s economy and the sharp decline in the value of the naira. The CBN Governor received a summons for this meeting on January 31.

During the meeting, senators asked questions of the CBN regarding the different economic problems the nation is currently facing.

Senator Adetokunbo Abiru expressed further concerns about the effectiveness of the CBN’s policies in the face of increasing poverty and instability, emphasizing the urgent necessity for a comprehensive forensic investigation of prior transactions and bank compliance.

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