- Recalled his pledge to undertake a thorough investigation of CBN
- Assures that monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy
President Bola Tinubu has said that the report of the Special Investigator mandated to look into the affairs of the Central Bank of Nigeria will be ready soon.
In his address to the nation to commemorate the 63rd independence anniversary on Sunday, President Tinubu recalled his pledge to undertake a thorough investigation of CBN, adding that the process was under way.
He said: “I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway. A new leadership for the Central Bank has been constituted. Also, my special investigator will soon present his findings on past lapses and how to prevent similar reoccurrences. Henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.”
Meanwhile, the President has urged Nigerians to continue to endure the hardship caused by the removal of subsidy on petrol.
“I am attuned to the hardships that have come. I have a heart that feels and eyes that see. I wish to explain to you why we must endure this trying moment,” he said.
“Reform may be painful, but it is what greatness and the future require.
“I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future,” he said.
Tinubu announced the removal of subsidy on petrol on 29 May, the day he was inaugurated as president.
Since then, the price of petrol has tripled across major cities from less than N200 per litre to about N600 per litre. This has also led to a huge increase in the costs of goods and services, further worsening the economic situation for millions of citizens.
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