Connect with us

Hot Gists

BREAKING !!!: CBN Governor, Emefiele Appears Before Senate Committee, Asks To Speak Off-Camera

Published

on

The Governor of the Central Bank of Nigeria, Godwin Emefiele, appeared before the Senate Committee on Finance on Tuesday in response to an invitation by the panel made on Sunday.

Mr Emefiele was summoned by the panel to give detailed explanations on the rationale behind the exchange rates the CBN used for three key projects under the Presidential Infrastructure Development Fund (PIDF).

ALSO READ
LORD !!!: Angry Egyptians Beg Super Eagles To Beat South Africa

The projects are being funded by the Nigeria Sovereign Investment Authority (NSIA).

The PIDF was earmarked from dollar-denominated Sovereign Wealth Fund to partly fund the Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Expressway, East-West Road and Mambilla Hydro Project.

The first three projects had already been funded to the tune of N163.8 billion.

The CBN governor had sent his deputy, Adebisi Shonubi, to represent him on Monday, but the committee rejected the arrangement.

ALSO READ
Kano State Governor - Ganduje Presents Staff Of Office To Current New Emirs

However, when Mr Emefiele appeared before the panel, he asked to speak off-camera.

After making necessary introductions, the committee chairman asked Mr Emefiele to explain how stamp duty has been performing.

“The issue we were looking forward to hearing from you is on the issue of stamp duties. We want to know how the stamp duty under your watch has been performing and what should be our expectation in this year’s budget as it affects the federal government.

ALSO READ
BREAKING !!!: ‘If You Hate Me, Go And Hit Your Head On A Wall’ – Prophet Chukwuemeka Tells Haters

“Also, to brief us what is the profile of Nigeria as a country in terms of monetary policy as it affects our day-to-day activities as a people and as a government,” he said.

He also said Mr Emefiele would not speak about the projects being funded with the NSIA because the Managing Director, Uche Orji, was absent.

After apologising for his absence at the previous meeting, Mr Emefiele asked to speak behind closed doors.

ALSO READ
OFFICIALLY: Senate Okays N5m Fine For Company Without Dignified Staff Buses

“Given the fact that the stamp duties matter is currently at the high court, I will like to crave your kind indulgence that you permit us to speak off camera.”

Journalists were thereafter excused from the room.

Earlier, the committee chairman demanded to see the contract documents for the projects and why the exchange rate for the dollar to naira was at N325 to a dollar instead of the official rate of N305 in a government to government transaction for these key infrastructure projects.

ALSO READ
UPDATE !!!: $11 Million Fraud - Obinwanne Okeke Faces 30 Years In Jail - FBI Says

While the lawmaker commended the NSIA for what it has done so far in terms of funding healthcare, education, infrastructure and investment in fertiliser production, he, however, called for caution in disbursement.

This is even as he sought more investment in diverse areas to grow the $1.5 billion Sovereign Wealth for its contributors like the Federal Government, state governments, local governments and the FCT to reap the benefits of its establishment.

ALSO READ
LORD !!!: Baby showers are just an invitation to witches – Charlotte Oduro Says

source; https://www.premiumtimesng.com/news/top-news/361149-cbn-governor-appears-before-senate-committee-asks-to-speak-off-camera.html

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *




Entertainment2 days ago

WOW !!!: (video) – Watch DJ Cuppy’s reaction backstage when she heard Aliko Dangote donated 100 Million Naira to Save The Children foundaton

News5 days ago

BREAKING !!!: Dino Melaye – I Am Better Than Yahaya Bello In Bed

Entertainment5 days ago

WOW !!!: Throwback video of Tacha criticizing Alex and Nina for accepting gifts from their fans

News6 days ago

UPDATE !!!: What Fashola Actually Said About Roads In Nigeria (video)

News1 week ago

LORD !!!: Speed Darlington Wants To Sell Iphone Zlatan Gifted Him, Zlatan Reacts (video)

Hot Gists2 weeks ago

BREAKING !!!: Oshiomhole Supporters Release Video Of Their Clash With Obaseki’s In Benin

Hot Gists2 weeks ago

UPDATE !!!: (video) – Nigerian Engineer accuses SARS officers of harrassing and arresting him for keeping beards

Hot Gists2 weeks ago

WOW !!!: VIDEO – 24 hours after, Prophet Chukwuemeka fulfils N4m cash promise to victims of Ochanja fire outbreak

Hot Gists2 weeks ago

WOW !!!: (video) – Church members moved to tears as soldier begs them to pray for Nigerian soldiers fighting Boko Haram in Maiduguri

News2 weeks ago

UPDATE !!!: Protest – UNIBEN Students Seize CBN Bullion Van, Army Vehicle (Video)

Uncategorised2 weeks ago

BREAKING !!!: Neymar Grooving To Burna Boy’s “Ye” (Video)

News3 weeks ago

UPDATE – Duncan Mighty Arrested, Spent 3 Nights In Police Custody, Pointed Gun At Me – M2 says

News3 weeks ago

LORD !!!: It is better to be a beggar than a fraudster – Actress Charity Nnaji continues to mock Mompha, shares video outside EFCC’s office claiming she visited him

Hot Gists3 weeks ago

BREAKING – Edo APC Chieftain, Kabaka, Mobilises Kids To Shield His Hotel From Demolition

Uncategorised3 weeks ago

UPDATE : Susan: ‘it was a Joke,’ says lady who accused davido of impregnating her (VIDEO)




Trending