Naira Free Fall: CBN Gov, Finance Minister, Others Appear Before Reps

Eko Hot Blog reports that the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, is currently appearing before the House of Representatives to speak on the state of the economy.

As of the time of filing this report, Cardoso is appearing before the lawmakers during plenary in Abuja and he is briefing them on the free fall of the naira and other issues affecting the monetary side of the economy.

The CBN chief will also address the lawmakers on the Foreign Exchange (FX) volatility and lack of liquidity in the market.

Cardoso was summoned alongside the Minister of Finance and Coordinating Minister for the Economy, Wale Edun; the Minister of Budget and National Planning, Atiku Bagudu and the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji.

Earlier, the lawmakers expressed worry about the continued fall of the nation’s currency and promised to the hold a financial sectoral debate.

Last week, the Speaker of the House, Abbas Tajudeen, had announced that the sectorial debate will assess the nation’s readiness to mobilise the necessary financial resources for implementing the budget.

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