Reps commend CBN on remittances to the Federation Account

Posted by News Express | 25 February 2014 | 2,594 times

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The Central Bank of Nigeria (CBN) today earned praise from the House of Representative Committee on Finance for its unequaled record of timely remittances to the Federation Account.  

Speaking at the resumed session of the 2014 Budget Defence, the chairman, Finance Committee, Dr. Abdul Mumin Jibril, noted that the apex bank, over the years, has been very consistent in its remittances to the Federation Account as and when due.

“The National Assembly will continue to commend the Central Bank of Nigeria for the fiscal discipline, which it has been demonstrating and for the good work it has been doing for this country,” Dr. Jibril stated.

He further noted that the CBN had not only been timely in its rendition, but also ensured that the amount it remitted into the Federation Account had been on the increase in the last four years.

Also speaking, the CBN Deputy Governor in charge of Corporate Services, Alhaji Suleiman Barau, noted that the bank had been able to increase its remittances to Federation Account from about N64.122 billion in 2011 to well over N80.0 billion in 2012.

•Photo shows CBN Acting Governor, Dr. Sarah Alade.

Source: News Express

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