The Senate has demanded a detailed explanation from the Central Bank of Nigeria (CBN) over the alleged non-remittance of N1.44 trillion in operating surplus, as the apex bank reported that the Nigerian economy had entered its most stable phase in more than ten years.
The Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Tokunbo Abiru, opened its statutory briefing with a firm call for transparency.
Senator Abiru said the Auditor-General’s query on the unremitted funds required a full, clear and documented response, insisting that public trust in monetary governance depended on strict accountability.
The CBN governor, Olayemi Cardoso, who appeared before the senate committee, offered an extensive review of economic conditions, asserting that Nigeria was experiencing renewed macroeconomic stability across major indicators.
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