A member of the House of Representatives, Mr. Gudaji Kazure (APC, Jigawa) has asked the Central Bank of Nigeria (CBN), to explain why it is seeking an appropriation of approximately one trillion for 2020 fiscal year, representing more than a hundred per cent of its current budget.
Describing the huge sum as unnecessary and uncalled for, he advised that rather than approve that sum for the apex bank, the House Appropriation Committee should infuse a big chunk of it into the social intervention programme of the executive or health and education sectors that badly need funding.
Kazaure made this position known at a press briefing in Abuja.
He further queried the apex bank for disregarding a resolution of the House that called for suspension of deposit and withdrawal charges imposed on customers by banks.
The lawmaker said, “In 2019, budget of the CBN was N420 billion, but the same CBN brought a budget of N1.3 trillion for 2020. What are they producing? Which revenue are they generating? I think this huge money is unnecessary and uncalled for.”
The lawmaker also used the occasion to appeal to President Muhammed Buhari to consider reopening land borders temporarily in order to reduce losses incurred by importers and exporters.
Kazaure said, “I am calling the attention of Mr President and I am appealing to the Federal Government to open the borders of his country, even if it is temporarily, because most of our business people have ordered goods and the government never gave them a notice.
“Some of them, their consignments were on the sea coming to Nigeria but unfortunately, they closed the borders without notice.
“Last week, ‘most’ of the associations of the traders invited me and I drove to the neighbouring countries through two borders up to Maradi, I counted 1,400 trucks with people’s goods and some of the goods can easily spoil because they are time bound. They were imported without expecting border closure. The consignments are still there and some of them collected loans from banks.
“I am calling on Mr President to allow the Customs and others to open the borders, even if it is temporarily,” he begged.