Xinhua
03 Oct 2023, 02:05 GMT+10
ABUJA, Oct. 2 (Xinhua) -- Nigerian President Bola Tinubu on Sunday pledged to oversee a thorough housecleaning of the country's central bank to rid the institution of corruption.
In a nationwide broadcast to commemorate Nigeria's 63rd independence anniversary, Tinubu shed light on some critical and sensitive national issues, including instituting a monetary policy that will be for the benefit of all Nigerians.
He described the Central Bank of Nigeria (CBN) under the leadership of former governor Godwin Emefiele as a "den of malfeasance," saying that the "housecleaning is well underway" in a move aimed at bringing large-scale corruption in the financial institution to an end.
While noting a new leadership for the central bank has just been constituted, the Nigerian president said a special investigator will soon present the findings on past lapses and how to prevent similar recurrences. "Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy."
Nigeria's secret police arrested Emefiele in June ahead of planned reforms in the financial sector. Olayemi Cardoso, a newly appointed central bank governor, took office Tuesday, with a mandate to enhance the confidence of Nigerians and international partners "in the restructuring of the economy toward sustainable growth and prosperity for all."
Get a daily dose of Middle East Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.
More InformationBRUSSELS, Belgium: To address power shortages at electric vehicle (EV) charging stations, last week, the European Commission announced plans to ...
REDMOND, Washington: Microsoft President Brad Smith said there is no chance of super-intelligent artificial intelligence (AI) being developed within the ...
Digital assets facilitate illegal activities and should be banned, Jamie Dimon saysCryptocurrencies should be outlawed, JPMorgan CEO Jamie Dimon said ...
Kabul [Afghanistan], December 7 (ANI): The World Bank's office will become operational in Afghanistan within a month, and it will ...
Nairobi, Kenya - Seychelles President Wavel Ramkalawan declared a state of emergency on Thursday, ordering all citizens except essential workers ...
Tuscaloosa (Alabama) [US], December 7 (ANI): Tech entrepreneur and Republican presidential candidate Vivek Ramaswamy tore into opponent Nikki Haley, also ...
NEW YORK, New York - In a rare move, United Nations Secretary-General Antonio Guterres has taken a dramatic constitutional step ...
BUKITTINGGI, Indonesia: On December 2, Mount Marapi in West Sumatra province, Indonesia, erupted, sending hot ash clouds several miles (kilometers) ...
PHILADELPHIA, Pennsylvania: In a measure supporters claimed will increase public safety amid high violent crime rates, Philadelphia City Council passed ...
CHICAGO, Illinois: As winter sets in and with cold weather just around the corner, Chicago is struggling to house hundreds ...
BOLOGNA, Italy: Due to fears of a collapse, local officials have secured the area around one of two 12th century ...
MUNICH, Germany: The heavy snow and icy conditions that hit Bavaria, Germany, canceled flights and long-distance trains out of Munich, ...