House to investigates all foreign account

The leadership of the House of
Representatives has ordered an
investigation into the management of
Nigeria’s foreign reserve accounts.
The House mandated its Committee on
Finance to scrutinise the running of the
Foreign Reserve Accounts by the Central
Bank of Nigeria (CBN) and the interest that
had accrued to the country from the last
four years.
In a motion sponsored by Honourable
Abdulssamad Dasuki on Wednesday, the
lower chamber pointed out that the accruals
from the accounts had not been openly
declared by the CBN.
The Committee was also directed to
understand the criteria being applied by the
CBN for engaging foreign managers for the
Foreign Reserve Accounts of the federation.