State of economy: Senate summons finance minister, CBN governor

Following the hardship being experienced by Nigerians in their daily activities, the Senate on Wednesday summoned the Minister of Finance, Mrs. Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to appear before it and brief the senators on the current state of the economy.

The decision followed a Motion on the Urgent need to address the present economic state of the nation moved by Senator Bassey Akpan from Akwa Ibom.

Akpan said the grim picture painted of the economy by the CBN as well as the report of the National Bureau of Statistics (NBS), showing the country in economic recession.

He pointed out that the decision of the CBN to adopt a flexible foreign policy simply means naira devaluation, no matter the name the apex bank decides to call it.

The motion was seconded by Senator Biodun Olujimi from Ekiti State.

The upper chamber, however, did not give the specific date that the duo would appear before it.

More to come…