The Central Bank of Nigeria on Saturday gave reasons why a civil society group has called for the immediate removal from office of its deputy governor in charge of Economic Policy Directorate, Joseph Nnanna.
On Thursday, media reports credited to the Awareness for Good Governance Group called for the removal of the CBN deputy governor over allegations of fraud at NEXIM.But the CBN, which described the group as faceless, said its call for the removal of Mr Nnanna was nothing, but “corruption fighting back.’The CBN said in a statement that the call for Mr Nnanna’s removal might not be unconnected with the forensic audit commissioned by the new Board under his Chairman.
The CBN said such abuse of procedures increased the risk burden of NEXIM to the extent that its non-performing loans rose to about 91 per cent of loans it granted. The CBN said following alleged wrong doings by the former company secretary of NEXIM, the audit revealed that about 181 of the 191 loans granted before the assumption of the Nnanna-led Board were non-performing.
On its part, the management of NEXIM, in a statement, said allegations of corruption and fraudulent against the Chairman of its Board by protesters last Monday were not only false and misleading, but a mischievous attempt at tarnishing his good reputation. It said the situation was “exacerbated by gross abuse of process, insider related loans and lack of professionalism in loan administration, amongst other issues.”
f_rum na u be admin for that group
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