The Central Bank Governor, Olayemi Cardoso has appeared before the House of Representatives to speak on the state of the economy, briefing the lawmakers on the free fall of the naira and other issues affecting the monetary side of the economy.
Cardoso said the economy must earn through exports to boost the naira, stating that the CBN plans to instill confidence through stability in consumer prices and foreign exchange market, while expressing optimism that the policy measures of the bank are expected to impact positively on inflation.
On his part, Minister of Finance and Coordinating Minister for the Economy, Wale Edun submitted that the country is in a better place economically than it was on May 29, 2023, noting that there will be further interventions to assist the poor in the country.
Cardoso and Wale Edun were summoned following Speaker Abbas Tajudeen’s announcement that the sectorial debate for the financial sector will assess the nation’s readiness to mobilise the necessary financial resources for implementing the budget.
