Senators In Rage Over Disregard By Finance Minister, CBN Gov, Others

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Anger rose in the senate yesterday as more senators reacted to the continued posture of the governor of Central Bank of Nigeria (CBN) Mr Cardoso, minister of finance Wale Edu and other government appointees to deliberately undermine the senate and their refusal to submit to the oversight responsibilities of the lawmakers.
The senators at a meeting with the finance minister, the CBN governor and other heads of government agencies decried the refusal of some of the ministers and heads of government agencies to obey senate resolutions and their flagrant breach of the laws including extra budgetary expenditures.

Senators at the meeting organised by its committee on banking and finance specifically to engage the CBN governor and others on the dwindling nation’s economy took their turns to cite several instances of outright neglect of senate resolution and invitation by some of the heads of government agencies.
According to the lawmakers at the session, some of the appointees have refused to open their financial books for the senate committees saddled with the responsibility of the oversight or have refused to see the senate approval to spend taxpayers money.
The storming session came barely 48 hours after the senate committee on gas raised the issue of lack of transparency by the handlers of the presidential CNG funds and their refusal to submit to the oversight of the senate . The committee had earlier asked the finance minister to furnish it with details of the award and disbursement of over N100 billion CNG fund.

Chairman, senate committee on banking & currency, Sen. Tokunbo Abiru at the meeting accused the CBN of undermining the committee by refusing to furnish the senate with relevant documents requested from the CBN Governor such as the audited reports and the CBN budget.
Senator Sani Musa questioned the minister of finance on the loan of $3.3 billion to cushion the effect of the rise in the value of the dollar against the naira.
He said the government cannot sell crude oil in advance and take a loan that cannot resolve the nation’s issues.

Senator Orji Uzor Kalu of the APC also expressed displeasure over the attempt by government functionaries to undermine the senate. He told the CBN Governor that he must submit to the oversight function of the senate committee on banking & currency.