News Beyond Boundaries

CBN, others under probe by lawmakers over alleged statutory breaches

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By Aishat Salihu

The committee on Public Procurement of the House of Representatives has mandated its members on Tuesday to investigate allegations of gross statutory breaches in the Central Bank of Nigeria.

The committee was charged to submit its report of the investigation on allegations of violation of the Public Procurement Act by the Central Bank of Nigeria, the Ministry of Finance and First Bank of Nigeria limited over a grant to Oyo state for the procurement of agricultural equipment.

The federal lawmakers, however, described the act as undermining and sabotaging the intention of the Federal Government in making Nigeria fully self-sufficient in food production.

Consequently, the probe is coming after the Governor of Central Bank, Godwin Emefiele was caught on tape alongside top managers of the bank trying to cover up 500billion naira which they had invested in a failed private business.

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