The Governor of the Central Bank of Nigeria, Godwin Emefiele, appeared before the Senate Committee on Finance on Tuesday in response to an invitation by the panel made on Sunday.

Mr Emefiele was summoned by the panel to give detailed explanations on the rationale behind the exchange rates the CBN used for three key projects under the Presidential Infrastructure Development Fund (PIDF).

The projects are being funded by the Nigeria Sovereign Investment Authority (NSIA).

The PIDF was earmarked from dollar-denominated Sovereign Wealth Fund to partly fund the Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Expressway, East-West Road and Mambilla Hydro Project.

The first three projects had already been funded to the tune of N163.8 billion.

The CBN governor had sent his deputy, Adebisi Shonubi, to represent him on Monday, but the committee rejected the arrangement.

However, when Mr Emefiele appeared before the panel, he asked to speak off-camera.

After making necessary introductions, the committee chairman asked Mr Emefiele to explain how stamp duty has been performing.

“The issue we were looking forward to hearing from you is on the issue of stamp duties. We want to know how the stamp duty under your watch has been performing and what should be our expectation in this year’s budget as it affects the federal government.

“Also, to brief us what is the profile of Nigeria as a country in terms of monetary policy as it affects our day-to-day activities as a people and as a government,” he said.

He also said Mr Emefiele would not speak about the projects being funded with the NSIA because the Managing Director, Uche Orji, was absent.

After apologising for his absence at the previous meeting, Mr Emefiele asked to speak behind closed doors.

“Given the fact that the stamp duties matter is currently at the high court, I will like to crave your kind indulgence that you permit us to speak off camera.”

Journalists were thereafter excused from the room.

Earlier, the committee chairman demanded to see the contract documents for the projects and why the exchange rate for the dollar to naira was at N325 to a dollar instead of the official rate of N305 in a government to government transaction for these key infrastructure projects.

While the lawmaker commended the NSIA for what it has done so far in terms of funding healthcare, education, infrastructure and investment in fertiliser production, he, however, called for caution in disbursement.

This is even as he sought more investment in diverse areas to grow the $1.5 billion Sovereign Wealth for its contributors like the Federal Government, state governments, local governments and the FCT to reap the benefits of its establishment.

https://www.premiumtimesng.com/news/top-news/361149-cbn-governor-appears-before-senate-committee-asks-to-speak-off-camera.html

Buhari! Buhari!! Buhari!!! I totally blame Buhari for all this.

Nothing will still happen......



In fact he will give them their own exchange rate too

Most things behind camera are shaddy.

He said the matter is still in court so he can't speak about it but all I know is that this man doesn't know what he is doing

Behind closed doorsWhere like the berlin conference,our collective wealth will be shared.

Something isn't right.
Why should a matter that concerns us all be discussed off camera?

Why off camera?

Black market

What is he hiding?.....why off camera....his ways are not pure oh

Only in nigeria! Na dem dem.

Doesn't want to appear before " Nigerians ". What's the Senate?

Okay

I cry for Nigeria's..

They should remind him cameras are meant for such summons in the house.

When leader wanted to be president just to travel round and don't know how to govern

You want to discuss a matter that concerns the public in private.
If I hear.


Anyway, there's something available for you in my signature.

Nawa ooo!!!







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Make Una dey scam us dey go jare... Las Las na draft Una dey take Nigerians dey play...

Help me solve this puzzle guys

What is he hiding?

Fools in govt

Spits

In a country where everything is kept away from the taxpayers from the President"private " visit to the chief of staff visit to the sharing of job slots ... Now the custodian of our apex bank prefer to talk to senators in private about the countries economy.... Anybody that conspired to bring this people on us may he not know peace , may another take his position...may the curses in psalms and Deuteronomy never leave his household

There's something they need to hide.

bokunrawo:
Help me solve this puzzle guys

monday

ursullalinda:
What is he hiding?.....why off camera....his ways are not pure oh

He's helping this govt in its many shady stuffs . must be the reason he's still the CBN governor

did i hear behind close doors and offcamera?

Whats the name of the committee chairman

Alaye talk wetin u won talk .... Craze dey worry u... Anyways I blame the dullard