The Senate will also grill the Service Chiefs on Wednesday and Thursday to explain what they are doing about the insecurity in the country.
Following the free fall of the naira in the foreign exchange market coupled with the worsening economic situation in Nigeria, the Senate has summoned President Bola Tinubu’s economic team to appear before it.
The Senate will also grill the Service Chiefs on Wednesday and Thursday to explain what they are doing about the insecurity in the country.
SaharaReporters reported on Friday that the upper chamber had invited the Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, to appear before it on Tuesday.
During the plenary on Tuesday, the upper legislative body directed that both the CBN governor and the economic team would now appear before it by 9.00 am on Friday.
SaharaReporters reports that members of President Tinubu's Economic Team include Minister of Finance, Olawale Edun; Minister of State for Budget and Economic Planning, Atiku Bagudu; CBN Governor Cardoso; Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji and Comptroller General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi.
The Chairman Senate Committee on Banks, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru, said the panel’s scheduled meeting with the CBN governor for Tuesday could no longer be held because of Cardoso’s engagement at the House of Representatives.
The panel decided after one hour of waiting for Cardoso to no avail.
Abiru said it will “appear that on our part, we’ll have to adjourn until Friday, the 9th of February”.
He said the lawmakers would have a “session with the Service Chiefs” on Wednesday, and of course, “that might extend till Thursday because they are issues of very serious concern to us”.
“So on that note, we have resolved, and I would like to invite one of my colleagues to move the motion to adopt the decision to postpone this session,” he said.
SaharaReporters reported on Monday that because of the unbearable cost of living occasioned by the devaluation of the naira, hundreds of residents of Minna, Niger State and Kano, Kano State staged protests to register their grievances.
The protesters who lamented the hikes in the prices of gas and fuel in the country, blocked major roads in the state to register their displeasure over the rising cost of living.
They lamented that there was no government effort to arrest the situation of the rising cost of food items.