Reps query CBN’s N400bn intervention projects

The House of Representatives on Thursday raised questions over the various “intervention projects” executed by the Central Bank of Nigeria, directing its Committee on Baking/Currency to investigate the development.

The House placed a figure of over N400bn as the worth of such projects said to have been executed in the last five years.

A lawmaker from Enugu State, Mr. Toby Okechukwu, who moved a motion on the issue, said the projects were executed in education and other sectors.

Okechukwu queried the “propriety” of the projects, saying the apex bank had chosen to go out of its core mandate of monetary policy regulation.

Besides, he informed the House that out of a record of 21 of such projects executed by the bank, “only three” had been verified.

He added that in most of the cases, the Bureau for Public Procurement was also sidelined.

Part of the motion reads, “The House notes that the CBN has executed and continues to execute various intervention projects and other contracts in the education and other sectors across the nation running into over N400bn of tax payers’ money.”

In a separate resolution, the House raised the alarm over the alleged plan by the authorities in the United Kingdom to deport about 29,000 Nigerians over immigration-related issues.

A member from Lagos State, Rita Orji, told the House that some of the affected persons had lived in UK all their lives.

“Some of them have lived in the UK for over 30 years; they have lost touch with Nigeria”, she added.

According to her, sending them to Nigeria will be like punishment since they may not be able to find their family members.

The House resolved that its Committees on the Diaspora and Foreign Affairs should intervene urgently, “using diplomatic channels ” to stop further action on the planned deportation.

 

Source Punch News