The senate committee on Banking, Insurance and Other Financial Institutions yesterday commended the Central Bank of Nigeria (CBN) on the level of implementation of its 2016 budget.
Speaking with journalists after its oversight visit to the CBN headquarters in Abuja yesterday, the chairman of the committee, Senator Rafiu Ibrahim, said the senators were satisfied with the level of budget implementation and discussion with the top management of the apex bank.
‘‘The visit is the usual oversight visit to the CBN by the senate committee. We are here to rub minds. The management answered all our questions and we are now more enriched about the operations of the CBN. Our own role is to help the institutions perform their duties effectively to Nigerians and function very well.’’
He also disclosed that the committee discussed issue of non-ammonisation of policies by the Nigerian monetary and fiscal authorities describing the development a mere issue perception.
‘‘When any nation is in the kind of situation we are in, there is a tendency to want to get out of it in a hurry. When we are adopting measures and they are not yielding results, we will complain. But we have spoken to the CBN and they have told us that they are working with the fiscal side and they have assured that they are always working together. We believe it is so,’’ he said.