Thursday, 15 March 2012


The senate has threatened to take the Governor of Central Bank of Nigeria Sanusi Lamido Sanusi to court for failing to submit the CBN 2012 budget to the National Assembly for consideration. 

The senate spokesman senator Eyinaya Abaribe dropped the hint at a news conference shortly after the passage of 2012 budget by the senate. 

Senator Abaribe explained that the CBN has been hiding under the CBN Act to deny the National Assembly access to the way and manner the CBN management has been spending the money accruable to the Apex bank.

The senate spokesman stressed that the provisions of the fiscal responsibility Act was clear on the need for government and its agencies to present their budgets for consideration by the National Assembly. 

The lawmaker also disclosed that the National Assembly may amend the CBN Act after the interpretation of the judiciary on the bone of contention between the apex bank and the legislature. 

He however disclosed that NNPC was able to present its budget as requested by the National Assembly. 

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