CBN spends over N400 billion without following due process •Reps launch probe

Posted by News Express | 30 October 2015 | 2,894 times

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The House of Representatives has urged its Committee on Banking and Currency to investigate the legality and propriety of several intervention projects carried out by the Central Bank of Nigeria (CBN).

The resolution followed a motion on the “need to investigate the level of compliance by the CBN with the laws in its various intervention projects” sponsored by Rep. Toby Okechukwu.

The lawmaker noted that the CBN has continuously executed various intervention projects in educational and other sectors across the country running into over 400 billion Naira without following due process.

The House approved the prayers of the motion and referred the matter to the Committees of Banking and Currency, and Works. (Channels TV)

•Photo shows CBN Governor Godwin Emefiele.

Source: News Express

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