President Bola Tinubu has made a significant announcement regarding the financial sector and civil service in Nigeria, Ajuri Ngelale who is the official spokesman to the president told reporters at the State house, that the president said that during a meeting with the President of the World Bank, Mr. Ajay Banga, at the Presidential Villa in Abuja, Ajuri assured that a comprehensive forensic audit of the Central Bank is presently underway. This audit aims to delve into the bank’s financial records and transactions to ensure transparency and uncover any potential irregularities or misconduct.

    In addition to the Central Bank audit, President Tinubu expressed his imminent plan for a thorough overhaul of the Civil Service payroll. He emphasized the need for a serious structural review to address the discrepancies he has observed in the numbers. Drawing from his past experiences at the state level, he recognized the importance of this reform and expressed his determination to implement it effectively.

    Click to read the NEWS, Breaking news And MORE:

    These initiatives are aligned with Nigeria’s Ease of Doing Business program, and President Tinubu emphasized the government’s commitment to close any financial loopholes that might exist. The proposed reforms are expected to target the working practices, encouraging a change in attitude among civil servants and prioritizing the education of the workforce. While acknowledging that these reforms may come with significant costs, the President reassured that the government is fully committed to carrying them out.

    Overall, these measures underscore the government’s dedication to financial integrity, transparency, and efficiency in the public sector. The comprehensive forensic audit of the Central Bank and the anticipated overhaul of the Civil Service payroll signify the administration’s commitment to fostering a conducive business environment and ensuring that Nigeria’s economic governance remains robust and reliable.

    addressing news men
    President Tinubu will unveil Civil Service Payroll and CBN Forensic Audit – Ajuri Ngelale

    Drawing attention to Nigeria’s strength and intellectual capabilities, the President urged the Bretton Woods institution to recognize the nation as a key player on the global stage, rather than merely a struggling economy. He emphasized that Nigeria is a vibrant and educated society, actively working to prevent chaos through strategic interventions. The President welcomed the World Bank’s proactive engagement, expressing a strong desire for a collaborative partnership that would bring mutual benefits and prosperity.

    Addressing the issue of poverty alleviation, the President appealed for increased support from the World Bank. He expressed optimism about a fruitful collaboration between Nigeria and the World Bank, leading to mutual gains and sustainable progress. The President’s call highlights the commitment of Nigeria to address the challenges of poverty and its eagerness to work closely with the international community to achieve positive and lasting change.

    During the meeting, President Tinubu delved into the current initiatives being undertaken to tackle various challenges, including subsidy removal, foreign exchange mismanagement, exchange rates, inflation, liquidity, and debt management. Additionally, he provided an overview of the significant reforms being implemented by his administration. These reforms encompass measures to strengthen Nigeria’s oil industry, facilitate the Ease of Doing Business, and place a strong emphasis on security to enhance the country’s revenue generation.