Business/Money

N4bn CBN succour for Edo State

The Governor of the Central Bank of Nigeria, Mr. Lamido Sanusi, on Thursday, brought smiles to the face of Edo State Governor, Mr. Adams Oshiomhole, as he gave assurance of the apex bank to credit the state government account with the over N4bn illegally deducted by commercial banks.
The CBN governor, who was at the government house, Benin, commended Oshiomhole for his open support for the ongoing reforms in the banking sector, saying it was important that all Nigerians continued to give their backing in order to achieve the desired results.
Oshiomhole in an appeal for the remittance of the state‘s money, said, ”We call on you to help us recoup some of the money that was illegally deducted by some commercial banks from Edo state accounts. N4bn is enough to pay two months salary, and if you come back in the next two months you will see the level of changes.
Responding, Sanusi said, ”We already discussed this issue and we will look into the issue again and credit the state account with the money after verification.”
Commending Oshiomhole for supporting banking sector reforms, Sanusi said, ”We thank you for the visit made to the CBN and for your transparent support for reforms. Reforms have to be supported at all levels and be all inclusive. We have to be able to hold all kinds of people to account for their actions, which you have always been known to stand for and why you you have always supported us.”
Oshiomhole on his part, saluted the CBN governor, saying the latter‘s work at the CBN had impacted well on the state.
He said, ”We admire the clear vision you had coming to office and nobody will see change unless you are ready to step on toes. There are forces, no matter how small they are, who, with a lot of resources at their disposal, are ready to resist changes and even where they occur, they are ready to reverse it.
”We in Edo State have benefitted from some of the reforms of the CBN, including the gains in interest rates regime. In Edo state, we are also involved in reforms including tax reforms. The state before now was more or less a tax-free state.”