On Tuesday 19th July, 2016 the Governor of Central Bank, Mr. Godwin Emefiele briefed the Senate, in a closed door session, on the Monetary/ Fiscal Policies adopted to salvage the current economic situation. It would be recalled that the Senate, on 25th May, 2016, unanimously resolved to invite the Minister of Finance Mrs. Kemi Adeosun and the Governor of Central Bank, Mr. Godwin Emefiele to brief them on the government’s monetary and fiscal policy after a motion titled ‘‘An Urgent need to address the present economic state of the Nation’’ was moved by Sen. Bassey Albert Akpan (PDP:Akwa-Ibom).
Reporting progress after the closed session with Mr. Emefiele, Senate President Dr. Bukola Saraki (APC:Kwara) disclosed that the Senate was briefed on the monetary policy of the Central Bank and the new foreign exchange management policy. While not giving full details of the session he mentioned also that the CBN Governor spoke on the need to diversify the economy for optimum growth as well as issues relating to some commercial banks.
Thereafter the CBN governor was said to have responded to questions from Senators bothering on national and economic matters.
