The Senate Committee on Banking, Insurance and Financial Institutions is holding a session with Central Bank of Nigeria Governor Olayemi Cardoso.
Cardoso led other officials of CBN to the Red Chambers on Friday morning amid the rising cost of living and hardship Nigerians are grappling with.
Barely two days ago Cardoso appeared before the members of the House of Representatives over the free fall of the Naira and the foreign exchange crisis.
The CBN governor blamed medical and education tourism for the pressure on Naira.
Despite CBN’s recent policy interventions, FMDQ data indicated that the Naira dropped to N1479.47 per US dollar at foreign exchange market on Thursday.
Meanwhile, the CBN had last week 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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