The Central Bank of Nigeria (CBN) has again been commended by the House of Representative Committee on Finance for its unequaled record of timely remittances to the Federation Account.
Speaking at the resumed session of the 2014 Budget Defence on Tuesday, February 25, 2014, the chairman, Finance Committee, Dr. Abdul Mumin Jibril, stated that the Apex Bank, over the years, had been very consistent in its remittances to the Federation Account as and when due.
Dr. Jibril noted that “the National Assembly will continue to commend the Central Bank of Nigeria for the fiscal discipline, which it has been demonstrating and for the good work it has been doing for this country”.
He further noted that the apex bank had not only been timely in its rendition, but also ensured that the amount it remitted into the Federation Account had been on the increase in the last four years.
Also speaking, the Deputy Governor in charge of Corporate Services, Alhaji Suleiman Barau, noted that the Bank hank had been able to increase its remittances to Federation Account from about N64.122 billion in 2011 to well over N80.0 billion in 2012.
