•••GIVES REASONS FOR SPARING EMEFIELE
Emeka Chidi, Abuja
President Muhammadu Buhari has scored his administration high in the fight against corruption.
The President said the Whistleblowing Policy of his government was effective as it ensured the returns of the loots carted away by corrupt public officers.
The President who made the comment while speaking with BLOOMBERG revealed that monetary recoveries from January-December, 2021 showed that more N152 billion, was recovered.
He put dollar recoveries for the year at over USD 386 million; GBP, at more than 1.1 million; Euro, about 157,000; Saudi Riyals about 1.7 million some more in Digital and other currencies.
“Starting with our Whistleblowing Policy enacted in my first year in office hundreds of millions in stolen funds have been returned within Nigeria.
“Working with our international partners, hundreds of millions of various currencies have been returned from abroad – primarily from the UK, US, and Switzerland and used as social and welfare funds distributed directly to the poorest during the Covid pandemic and the provision of long-delayed infrastructure-roads, bridges, rail, and power.
“As an illustration, Monetary recoveries (January-December) 2021 show that more N152 billion has been recovered. Dollar recoveries for the year amount to over USD 386 million; GBP, more than 1.1 million; Euro, about 157,000; Saudi Riyals about 1.7 million some more in Digital and other currencies.
“Those partners refused to return these monies held for decades to previous Nigerian administrations in the certainty they would simply be re-stolen. They changed their approach with us because they knew my administration could be trusted.” He revealed.
The President also explained why he did not sack the Governor of Central Bank, Mr Godwin Emefiele, in spite of the outrage that greeted his indication of interest in the presidency.
Bihari explained that the Presidential ambition of Emefiele did not run foul of the law which he said should be determined by the Board of Directors of the CBN.
He said that Emefiele was being labeled political for following alternative economic models that focuses centrally at the people.
“The CBN governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate. Ultimately, it will be for the CBN’s board of directors to determine whether a CBN governor’s actions have fallen foul of the laws in place to ensure he can most effectively carry out his duties.
“But there is a subtext to the accusations. Because the governor follows a model outside of the economic orthodoxy, he is labelled political. But the orthodoxy has proved wrong time and again.
“Instead, the governor is following an alternative economic model that puts people at the heart of policy. Nigeria should be free to choose its development model and how to construct our economy, so it functions for Nigerians.” He said