Glamtush reports that the Senate’s Committee on Banking, Insurance, and other Financial Institutions has summoned the Governor of the Central Bank of Nigeria, Olayemi Cardoso, to appear before Committee next Tuesday.
This online news platform understands that the move comes amid pressing concerns about the state of the economy and the sharp decline of the naira in the foreign exchange market.
With the official window reporting the naira falling to an all-time low as it hit a new low of N1,520 to a dollar on Wednesday, the Senate is seeking answers and solutions from the apex bank governor to stabilise the currency and restore confidence in the economy.
Meanwhile, the CBN said it has fulfilled its pledge to clear the backlog of foreign exchange owed to foreign airlines in the country, and concluded the payment of all verified claims by airlines with an additional $64.44 million to the concerned airlines.
The CBN also said it released US$500 million to various sectors to further address the backlog of verified foreign exchange transactions.
The top Nigerian newspaper headlines for Sunday, 12th May 2024, can be accessed on this…
Players in the African film and television industry were again recognised for their talent, dedication…
The movie, “Breath Of Life” stole the show, taking home 6 golden statuettes out of…
Two guards have been arrested for raping a female student of an Oyo private varsity. …
BBNaija’s Neo and Venita won the best dressed male and female at the 2024 AMVCA cultural day. Glamtush reports…
Small and medium-sized businesses (SMBs) are the lifeblood of the Nigerian economy. According to figures…