The Senate Committee on Banking, Insurance and Financial Institutions is currently 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.
Recall that 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 attributed the pressure on Naira to travel for medical and educational purposes.
Despite recent policy interventions by the CBN, the Naira fell to N1479.47 per US dollar at the foreign exchange market on Thursday, according to FMDQ data.
Last Monday, CBN released a set of reforms titled “Financial Markets Price Transparency and Market Notice of a revision to the FMDQ FX Market Rate Pricing Methodology.”
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