A thorough forensic investigation of the Central Bank of Nigeria (CBN) is now in progress, according to President Bola Tinubu. He also mentioned that the payroll for the Civil Service would shortly undergo a comprehensive reform.
In an address to an audience yesterday at the Presidential Villa in Abuja, he made these revelations with Mr Ajay Banga, the President of the World Bank, present.
Tinubu said: “a very serious structural review of the Civil Service payroll” was necessary because he couldn’t believe the numbers he is seeing, noting that he once had a similar experience at the state level.
‘’The reforms are in tandem with Nigeria’s Ease of Doing Business programme. We’ll block all financial loopholes. The reforms will be targeted at the way we work, change of attitude and equally on educating our people. It’s costly but we will do it,’’ he said.
President Tinubu emphasized Nigeria's tenacity and intellectual prowess while pleading with the Bretton Woods institution to see the nation as a significant actor in the international community rather than just a country with a troubled economy.
‘‘We stand as a vibrant and educated society, seeking to avert chaos through strategic interventions. Your proactive engagement aligns with our quest for partnership, and together, we shall pursue mutual benefits that enrich us all,’’ he said.
To reduce poverty, the President called for additional support from the World Bank and expressed hope for fruitful cooperation between Nigeria and the World Bank that would result in win-win outcomes and long-term development.
President Tinubu also provided insights into his administration's significant reforms, including those aimed at consolidating advancements in Nigeria's oil industry, enhancing the Ease of Doing Business, and prioritizing security to increase the country's revenue generation, in a statement by Special Adviser to the President for Media & Publicity, Ajuri Ngelale.
In his remarks, Mr Banga praised President Tinubu for his efforts in tackling the nation's economic problems.
‘’Yes, we give money and our dollars are very important but where we are helpful is our expertise and knowledge and our experience from many markets. In that way, we will always be your friend and partner, not just with the money, but with our minds and our hearts and you should be rest assured about that,” Banga said.’
