Tinubu Vows Decisive Housecleaning of CBN.
…says Special Investigator to present Findings soon.
(Business Africa Digest)- President Bola Tinubu has promised a thorough housecleaning of the Central Bank of Nigeria(CBN) to make it alive to it’s constitutional responsibilities.
President Tinubu who said the housecleaning is already underway stated this in his first Independence day broadcast to the nation Sunday in Abuja.
“I pledged a thorough housecleaning of the den of malfeasance the CBN had become. That housecleaning is well underway”, he said.
He also said a new leadership for the Central Bank has been constituted, adding that his special investigator will soon present his findings on past lapses and how to prevent similar
reoccurrences.
Speaking further on the malfeasance of the apex bank, President Tinubu said “henceforth, monetary policy shall be for the benefit of all and not the exclusive preserve of the powerful and wealthy”.
On the tax policy for the country, Tinubu observed that wise tax policy is essential to economic fairness and development, stressing that he has inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.
Speaking on unemployment, he said plans are underway to boost employment and urban incomes, while providing investment funding for enterprises with great potential.
He noted that his administration is currently increasing investment in micro, small and medium-sized enterprises.
He said commencing this month, the social safety net is being extended through the expansion of cash transfer programs to an additional 15 million vulnerable households.
According to him, the administration shall always accord the highest priority to the safety of the people.
On the security situation in the country, he said an Inter-Service collaboration and intelligence sharing have been enhanced, adding that Service Chiefs have been tasked with the vital responsibility of rebuilding the capacities of our security services.
He however commended the country’s gallant security forces for “keeping us safe and securing our territorial integrity, stressing that many have paid the ultimate sacrifice”.
“We remember them today and their families. We shall equip our forces with the ways and means needed to perform their urgent task on behalf of the people”.
“We shall continue to make key appointments in line with the provisions of the Constitution and with fairness toward all. Women, Youth and the physically challenged shall continue to be given due regard in these appointments”.
President Tinubu used the occasion to congratulate the National Assembly for its role in the quick take-off of this administration through the performance of its constitutional duties of confirmation and oversight.
