Tinubu Says Central Bank Forensic Audit Underway, Vows To Block Financial Loopholes
President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent
The President said this on Friday when he received the President of the World Bank, Ajay Banga at the Presidential Villa, Abuja.
Highlighting Nigeria’s resilience and intellectual prowess, the President implored the Bretton Woods institution to view the country as a significant player within the global community, not solely as a struggling economy.
On poverty alleviation, the President called for increased support from the World Bank, expressing optimism of a productive collaboration that will lead to mutual benefits and sustainable progress.
He also discussed ongoing efforts to address issues such as subsidy removal, foreign exchange management, inflation, liquidity, and debt management.
President Tinubu also spoke on his administration’s substantial reforms, including those aimed at consolidating improvements in Nigeria’s oil industry, enhancing the Ease of Doing Business, and prioritizing security to boost the country’s revenue generation.
The President stressed the importance of electricity generation for economic development, highlighting the turning of sod on Friday on the first phase (350MW) of the 1,350MW power generation project in Gwagwalada, Abuja.
While calling for a positive partnership with the World Bank, President Tinubu emphasized key areas of focus as job creation, digitization, and National Identity Management.
He also requested the World Bank’s support in addressing the challenges posed by the removal of cross-sectoral subsidies, particularly lessening the impact on less privileged Nigerians.
In his remarks, Banga commended President Tinubu for his efforts in addressing the economic challenges of the conutry
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