Senate summons CBN Governor, Finance Minister for explanation on economy

The Senate today summoned the Minister of Finance, Mrs. Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to appear before it and brief it on the Monetary and Fiscal policies adopted to salvage the current economic situation in the country.

The Senate explained that the summoning of both the CBN Governor and the Finance Minister has become imperative following last week’s report on the nation’s economic scorecard for the first quarter of the year 2016 for Gross Domestic Product, (GDP) by the National Bureau of Statistics (NBS) on the inflation and unemployment levels.

The Senate position was sequel to a motion by Senator Bassey Albert Akpan, PDP, Akwa Ibom North-East and titled, “An urgent need to address the present economic state of the nation”.

Senator Biodun Olujimi, PDP, Ekiti South noted that it was clear that there was no fiscal Economic policy in the country at the moment, adding that while the CBN governor and the Minister of Finance appear before the Senate, they should come with President Muhammadu Buhari’s economic blueprint.