President Bola Tinubu has vowed to embark on what he called “thorough housecleaning of the den of malfeasance the CBN had become.
“That housecleaning is well underway. A new leadership for the Central Bank has been constituted.”
In a broadcast to the nation which is marking its 63rd Independence anniversary today, October 1, the President said that his special investigator “will soon present his findings on past lapses and how to prevent similar reoccurrences.”
He said that henceforth, monetary policy shall be for the benefit of all and not the exclusive province of the powerful and wealthy.
Tinubu argued that wise tax policy is essential to economic fairness and development, saying that he had inaugurated a Committee on Tax Reforms to improve the efficiency of tax administration in the country and address fiscal policies that are unfair or hinder the business environment and slow our growth.
“To boost employment and urban incomes, we are providing investment funding for enterprises with great potential. “Similarly, we are increasing investment in micro, small and medium-sized enterprises.
“Commencing this month, the social safety net is being extended through the expansion of cash transfer programs to an additional 15 million vulnerable households.”