The Governor of the Central Bank of Nigeria, Olayemi Cardoso, will today appear before the Senate Committee on Banking, Insurance and other Financial Institutions to discuss the state of the country’s economy.
The meeting between the CBN governor and lawmakers was scheduled to begin at 9am at the Senate Complex, Abuja.
This was revealed by the Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Adetokunbo Abiru, at the last sitting of the committee members on Tuesday.
Last Wednesday, the Senate Committee summoned the head of Nigeria’s central bank to appear before members of the committee to discuss the state of the country’s economy which is hitting Nigerians hard.
Cardoso was supposed to appear before the Senate committee on Tuesday, but the meeting was postponed until today because he appeared before the House of Representatives that day to discuss the same issue.
President Bola Tinubu stopped the corruption-ridden oil subsidy plan and subsequently announced the unification of the exchange system.
The value of the Nigerian naira has declined since the beginning of the unification policy, as the currency is weighed down by illiquidity and speculative practices among market operators and street traders.
Life conditions
Economic hardships have forced many Nigerians into poverty as many could not bear the high cost of living in the country.
There have been protests in different parts of the country against the high cost of living.
Some Northern leaders, under the auspices of the Arewa Initiative for the Defense and Promotion of Democracy (AIDPD), claimed that many protests in some parts of the country against the high cost of living were sponsored by politicians.
The group said politicians, especially opposition parties, are taking advantage of the tough economy to incite the masses against the government.
The Chairman of the Arewa Initiative for the Defense and Promotion of Democracy, Shehu Ma’aji, disclosed this at a press conference in Abuja on Thursday.
He warned politicians to stop inciting the public against the government.
“Those disgruntled politicians and other unpatriotic elements who have perfected plans to mobilize bogguss and social organizations (CSOs) to organize phantom protests across the country to malign the image of this administration should stop the evil machinations.
“Those disgruntled politicians who are using some clerics through misinformation to issue statements condemning this administration without any good reason should desist immediately in the interest of our dear nation.
“We are not averse to any form of legitimate protest to show grievances against government policy or programme, provided it is done in good faith and in accordance with the laws of our dear country, Nigeria. We frown at the idea of sponsoring people to organize fake protests for financiers to make cheap political gain by discrediting the current administration,” Ma’aji said.