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BREAKING: Senate drills CBN Governor Cardoso, other officials

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BREAKING Senate drills CBN Governor Cardoso other officials

The Senate Committee on Banking, Insurance and Financial Institutions is currently in a session with Central Bank of Nigeria Governor Olayemi Cardoso, as reported by NewsNow.

Cardoso, accompanied by other CBN officials, appeared before the Red Chambers on Friday morning in light of the prevailing hardships and the soaring cost of living experienced by Nigerians.

Just two days ago, Cardoso had appeared before the House of Representatives to address the steep decline of the Naira and the foreign exchange crisis.

During the meeting, the CBN governor attributed the pressure on Naira to medical and education tourism.

Despite the recent policy interventions by the CBN, FMDQ data indicated that the Naira plummeted to N1479.47 per US dollar at the foreign exchange market on Thursday.

Last week, the CBN issued ‘Financial Markets Price Transparency and Market Notice of a revision to the FMDQ FX Market Rate Pricing Methodology’ and other reforms.

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