Reps commend CBN on N80bn remittances

THE Nigeria House of Representatives Committee on Finance on Tuesday commended the Central Bank of Nigeria (CBN)  for its unequalled record of timely remittances to the Federation Account as stipulated by the law of the land.
Speaking at the resumed session of the 2014 Budget Defence on Tuesday, the chairman, Finance Committee, Honourable  Abdul Mumin Jibril, gave the commendation in Abuja at the resumed session of the 2014 budget defence by the nation’s apex bank.
 The Committee Chairman acknowledged that the apex bank, over the years had been very consistent in its remittances to the Federation Account as and when due in line with the constitution of the Federal Republic of Nigeria.
According to him,”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 added 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.
In his brief remark, the Deputy Governor in charge of Corporate Services, Alhaji Suleiman Barau, noted that the bank 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.