On Tuesday, the Senate held a closed-door ministerial briefing with the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele.
According to what we gathered, the meeting was to gauge the effectiveness of the monetary and fiscal policies that have been adopted by the apex bank to salvage the current economic situation in the country.
During the briefing, members of the Senate questioned the CBN Governor on the recent changes made to Nigeria’s foreign exchange management policy; the determination of foreign exchange rates; the monetary policy of the Federal Government; the challenges being experienced by many commercial banks; and the need to diversify and grow Nigeria’s economy for better performance.
It was further gathered that lawmakers promised to continue to collaborate with the necessary bodies to bring succour to the Nigerian people in the form of effective oversight and innovative legislation.
