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President Bola Tinubu has announced that a comprehensive forensic audit of the Central Bank of Nigeria (CBN) is currently underway, and a thorough overhaul of the civil service payroll is imminent.
During a meeting with World Bank president Ajay Banga, Tinubu expressed shock at the numbers he has seen and vowed to block loopholes in the payroll system.
He acknowledged that carrying out the reform could be costly but stated that his administration is committed to it.
Tinubu also highlighted Nigeria’s resilience and intellectual prowess and called for increased support from the World Bank for poverty alleviation and sustainable progress.
He discussed ongoing efforts to address issues such as subsidy removal, foreign exchange mismanagement, inflation, and debt management.
Tinubu emphasized the importance of electricity generation for economic development and requested the World Bank’s support in job creation, digitization, and national identity management.
In response, Banga commended Tinubu’s efforts and assured him of the World Bank’s support and partnership.
This article was updated 1 week ago
