*CBN is in serial breach of budgetary processes
*ICPC is yet to finish investigation on leakages against them?
Former member of the House of Representatives, Hon Ngozika Ihuoma, has called for the sack and prosecution of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, for not producing the institution’s audited account to the National Assembly in the last three years as required by law.
Ihuoma who spoke to journalists in Abuja at the weekend observed that the Central Bank of Nigeria, in 2015 allegedly spent N1.062 trillion revenue above the N482.167 billion proposed income for the. The former lawmaker, who lamented that the apex bank overshot its spending in the 2014 appropriation by over 50% during the 2015 budget performance and 2016 budget defence of budgetary allocation to CBN, noted that the bank had imbibed the habit of spending more than what was budgeted to it.
According to him, “CBN has developed a culture of spend as I earn attitude.” The bank should have remitted N400 billion operating surplus to government’s treasury. He queried what he described as the astronomical increase in staff cost from N158.134 billion in 2015 to N408.808 billion as proposed in 2016 budget.
The Executive Secretary of Legislative Watch wondered why the CBN should spend N780 million on the dealing room, N226 million for recruitment, N1.5 billion on research, N75.980 billion loss incurred from SWAP, N.8 billion on data collection and about N1 billion on Entrepreneurial Development Centre.
He demanded for CBN financial statement, nominal roll, details of foreign and domestic investments, among other contentious issues. To address some of the contending issues on the operations and core mandate of the bank.
Hon Ihuoma said “on 11th July 2016, we had dragged the CBN to the ICPC for investigation over leakages from the Federation Account. As we speak the outcome of that investigation is still being awaited.
President Muhammadu Buhari owes this nation the urgent need to not only sack Emefiele and hand him over to be investigated and prosecuted. These monumental and serial breaches are simply not acceptable.
Imagine the ICPC had documented allegations of leakages in the illegal FAAC meeting monthly running into billions, we captured everything and submitted to them and as I speak to you, nothing has been to stop the nefarious activities.