Nigerian Senate Questions CBN Over Alleged N1.44 Trillion Unremitted Surplus

The Nigerian Senate has engaged the Central Bank of Nigeria (CBN) over an alleged N1.44 trillion unremitted surplus to the federal government. The Senate committee, led by Senator Mukhail Adetokunbo Abiru (Lagos East), demanded a comprehensive explanation and remedial actions from the CBN.

Issues raised include cash reserve ratio, cyber threat management, and regulatory frameworks. The Senate also sought updates on financial regulatory coordination and the recapitalization of banks.

The CBN's role in addressing currency issues and reducing excess bank charges was also questioned.