Browsing: Central Bank of Nigeria

At the height of this reign of impunity and vast corruption, the former Governor of the Central Bank of Nigeria and the present Emir of Kano, Sanusi Lamido Sanusi, had in 2014 accused the NNPC of failing to remit $20 billion into the coffers of government. This was during the era of high oil prices. He had also complained about the lack of transparency in the operations of the subsidy payment regime and was booted out of office for blowing the whistle on corruption.

Confirming this to newsmen on Monday, in Abuja, the Acting Director, Corporate Communications Department, at the Bank, Mr. Isaac Okorafor, said the decision was aimed at giving BDCs a level playing field to enable them compete favourably with other authorized foreign exchange dealers.