Investigative Report On Central Bank To Be Out Soon – SGF

The Secretary to the Government of the Federation (SGF), Senator George Akume, says an investigation into the Central Bank of Nigeria, CBN, will soon reveal the truth about past mismanagement as part of a review aimed at moving the country forward.

“We have a new team at the CBN,” he said, noting that “a special investigator has been with the CBN for some time now, and his report will soon be released. And Nigerians will know what really went on and what brought us to where we are today.”

The SGF was speaking at the World Press Conference held in Abuja as part of a series of activities lined up to mark Nigeria’s 63rd Independent Anniversary which he said would be marked low key due to current economic challenges faced by Nigerians.

He, however says, while the present government has only just begun its four-year term, it has already taken on major challenges and started implementing solutions.

Nigeria’s President, Bola Ahmed Tinubu, has been hailed for moving quickly with bold reforms soon after he assumed office this year.

Some of the reforms include a unified foreign exchange regime, the signing of an electricity act aimed at fixing the country’s epileptic power supply, and the removal of a fuel subsidy that cost the country $10 billion last year.

“We have repeatedly said that the fuel subsidy regime was a scam, but the courage to confront it was always lacking until this government came to power,” Akume told the gathering at the Nigerian Press Center in Abuja, adding that “some of these things would be well encapsulated in the report that Nigerians will soon see.”

The Secretary to the Government said President Tinubu has pledged to revive an economy struggling with record debt, weak growth and double-digit inflation.

He said Nigerians should remain optimistic about the nation’s future despite current economic difficulties occasioned by the fuel subsidy removal and the global economic downturn.

He said, though times are tough now, strong leadership and public support will help the country emerge stronger.

“Many nations have gone through these trying moments and they have come out stronger,” he said. “Stronger because leadership was committed and the citizenry also appreciated what leadership was doing.”