President Bola Tinubu has revealed that a comprehensive forensic audit of the Central Bank of Nigeria (CBN) is underway, while a thorough overhaul of the Civil Service payroll is imminent.
According to a statement by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, this was made known by Tinubu during an audience with the President of the World Bank, Mr. Ajay Banga on Friday, August 4, 2023, at the Presidential Villa, Abuja.
Highlighting Nigeria’s resilience and intellectual prowess, the President implored the Bretton Woods institution to view the country as a significant player within the global community, not solely as a struggling economy.
On poverty alleviation, the President called for more increased support from the World Bank, expressing optimism for a productive collaboration between Nigeria and the World Bank that will lead to mutual benefits and sustainable progress.
He also discussed the ongoing efforts to address issues such as subsidy removal, foreign exchange mismanagement, exchange rates, inflation, liquidity, and debt management.
The presidential media aide said Tinubu also shared insights into his administration’s substantial reforms, including those aimed at consolidating improvements in Nigeria’s oil industry, enhancing the ease of doing business, and prioritizing security to boost the country’s revenue generation.
While calling for a positive partnership with the World Bank, Tinubu emphasized key areas of focus, including job creation, digitization, and National Identity Management.
He also requested the World Bank’s support in addressing the challenges posed by the removal of cross-sectoral subsidies, particularly in lessening the impact on less privileged Nigerians.
In his remarks, Mr. Banga commended Tinubu for his efforts in addressing the economic challenges of the country.
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