Economy: Senate Committee Questions CBN Gov, Cardoso, others

The Senate Committee on Banking, Insurance and Financial Institutions on Friday, held an interactive session with Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, alongside other top officials of the apex bank.

The meeting which is sequence to an earlier summon on January 31 by the Upper Legislative chamber to the CBN Governor to appear before it, is not unconnected with current hardship and high cost of living Nigerians are currently going through.

It is also coming two days after Cardoso appeared before the House of Representatives where he was made to face a barrage of questions over the free fall of the Naira and the foreign exchange crisis.

Insiders say the Senate, worried over the situation in the country, is seeking answers and solutions from the apex bank Governor and plans to stabilise the currency.