CBN budget: Senate summons Sanusi, Okonjo-Iweala, Adoke, others

[DT]

The Senate has summoned the Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi as well as the Ministers of Finance and Justice, Ngozi Okonjo-Iweala and Mohammed Bello Adoke respectively over the refusal of the apex bank to submit its annual budget to the National Assembly.

According the invitation signed by the chairman of the Senate Joint Committee on Banking, Insurance and Other Financial Institutions and Judiciary, Human Rights and Legal Matters, Senator Ayo Ademola Adeseun (ACN, Oyo Central),  the trio are expected to appear at a public hearing slated for next Monday "in continuation of the ongoing legislative process on the amendment of certain sections of the CBN Act 2007 which seeks to enhance the powers of the bank to prohibit transactions with foreign currencies in Nigeria and to compel the bank to submit its annual budget before the National Assembly".

"If passed into law, the amendments will alter sections 6 (3) (a) and 34 (a) (I) of the Act", the lawmaker added.

Also expected at the hearing are CBN former governors and former board members, CBN subsidiaries, Registrar/Chief Executive of the Chartered Institute of Bankers of Nigeria (CIBN), among others.  



Daily Trust