“Specifically, the Central Bank of Nigeria which has yearly budget of N2.3trillion, has not remitted any revenue from its operational surpluses into the Consolidated Revenue Fund within the last five years “
According to the CBN, contrary to what the Senate has been saying, it has been remitting operational surpluses in the last five years. The remittance he explained, is done in line with the provisions of the Fiscal Responsibility Act and not that of the CBN Act which stipulates 75% remittance. “We do this on yearly basis as required by the Fiscal Responsibility Act despite the fact that the CBN Act , requires us , to remit 75% only “, he said.
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