Reps Query CBN Over N57bn Expended On 6,661 Staff In 2013

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The House of Representatives Committee on Banking and Currency, on Wednesday, expressed shock over the… documents presented to the committee by the Central Bank of Nigeria CBN), which showed that the apex bank extended the sum of N57 Billion on 6,661 staff as salaries and allowances in 2013.

This came to fore when the CBN appeared before the committee for the first time to defend its 2014 budget proposal and appraisal of 2013 budget.

To this end, the committee gave CBN till 12 noon today to avail the committee nominal roll of the apex bank.

The CBN was represented by its Deputy Governor, Corporate Services, Alhaji Suleiman Barau, at the committee headed by Honourable Jones Onyereri.

The committee, at the session, also requested the CBN for details of the kind of capacity building that gulped N18 billion in 2013 within 24 hours.

Further revelations made to the committee was that the CBN budgeted the sum of N413 billion for management of liquidity and ended up spending N739 billion.

The committee also demanded for the details of fixed assets of the CBN where the sum of N114 billion was spent in 2013.

The CBN's document also showed that in the apex bank 2013 budget, CBN overshot its 2013 budget expenditure by more than N326 billion.

The bank budgeted N413,373.89 billion as its expenditure for 2013 but ended up spending a staggering N739,640.63 billion.