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BREAKING: Central Bank Governor to appear before Nigerian lawmakers

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The Governor of the Central Bank of Nigeria, Olayemi Cardoso, will appear before the Senate Committee on Banking, Insurance and other Financial Institutions today to speak on the state of the nation’s economy.

The meeting between the CBN governor and the lawmakers was scheduled to commence by 9 a.m. at the Senate Complex, Abuja .

Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, Adetokunbo Abiru, disclosed this at the last sitting of members of the committee on Tuesday.

Last Wednesday, the Senate Committee summoned Nigeria’s central bank chief to appear before members of the committee to discuss the situation of the nation’s economy that is biting hard on Nigerians.

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Mr Cardoso was supposed to appear before the Senate committee on Tuesday but the meeting was postponed till today because he appeared before the House of Representatives on that day to discuss the same issue.

President Bola Tinubu halted the corruption-ridden petroleum subsidy scheme and subsequently announced the unification of the foreign exchange system.

The value of Nigeria’s naira has declined since the commencement of the unification policy as the currency is weighed down by illiquidity and speculative practices among market operators and street traders.
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The economic hardship has forced many Nigerians into poverty as many could not bear the high cost of living in the country.

There have been protests in different parts of the country against the high cost of living.

Some Northern leaders under the aegis of Arewa Initiative for the Defense and Promotion of Democracy (AIDPD) claimed that many protests in some parts of the country against the high cost of living were sponsored by politicians.

The group said politicians especially the opposition parties are taking advantage of the harsh economy to incite the masses against the government.

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Chairman of the Arewa Initiative for the Defense and Promotion Democracy, Shehu Ma’aji, disclosed this at a press briefing in Abuja on Thursday.

He cautioned politicians to stop inciting the public against the government.
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“Those disgruntled politicians and other unpatriotic elements who have perfected plans to mobilise bogguss and society organisations (CSOs) to stage shantom protests across the country to smear the image of this administration should stop evil machinations.

“Those disgruntled politicians who are using some clerics through misinformation to issue statements condemning this administration without any good reason should desist forthwith in the interest of our beloved nation.

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“We are not averse to any form of legitimate protest to show grievances to the government’s policy or programme, provided it is done in good faith and under the laws of our beloved country, Nigeria. We frown at the idea of sponsoring people to stage fake protests for the financiers to score cheap political mileage by discrediting the current administration,” Mr Ma’aji said.

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