Naijakolo

No. 1 Hotspot for Nigerian Music, Video, Sports and Entertainment News


Nov
’8’
Reps To Investigate Alleged Non-Repayment Of $7bn Foreign Reserves
PublishedBy: in CBN,House of Representatives,LocalNovember 8, 2019
A file photo of lawmakers during plenary at the House of Representatives Chamber in Abuja.

 

The House of Representatives says it will investigate the alleged non-repayment of seven billion dollars from the country’s foreign reserves, disbursed to 14 global asset managers and 14 banks by the Central Bank of Nigeria since 2006.

The House on Thursday resolved to investigate the matter, after a motion sponsored by representative, Abubakar Ahmad.

According to the motion, the CBN gave each asset manager and its Nigerian bank counterpart a sum of $500 million dollars from the nation’s foreign reserves to manage.

The lawmakers are worried that after 13 years, the $7 billion foreign reserves has not been repaid to the CBN.

Support NAIJAKOLO' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to NAIJAKOLO, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate

Related Posts


Naijakolo.com

Peruzzi feat. Davido – Sunshine

Naijakolo.com

Cuppy feat. Zlatan Ibile – Gelato

Comment Below!

Your Comment Is Highly Appreciated!! Enter Your Name Below & Comment.