The House of Representatives on Wednesday asked President Muhammadu Buhari to sack Central Bank governor Godwin Emefiele for violating the provisions of the CBN Act 2007.  PeoplesGazette reports.

The parliament also charged Attorney-General  Abubakar Malami to immediately prosecute Mr Emefiele for violating the CBN Act. Information Guide Nigeria

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This followed the adoption of a motion by a lawmaker, Sergius Ogun, representing Esan North-East/South-East Federal Constituency, of Edo State, at plenary. jamb results

The House had during plenary noted that the Buhari-led federal government had borrowed a total of 2.4 trillion naira, from the CBN, within the first six months of 2022.

The lawmakers said the fund is far above five per cent of the FG’s revenue for 2021, which stood at N3.9 trillion.

They also expressed worries about the rising debt profile of the Buhari government, which stands at N33.31 trillion as of March 2021.

The House explained that the owing excluded the N15.51 trillion debt of the government to the CBN, already profiled to the Debt Management Office.

According to them, Section 38 of the CBN Act provides that loans shall be repaid by the FG the same financial year it was granted.