Tinubu Seeks Senate Approval to Convert CBN Funds to Assets Amid Questions Over Balance
• President Tinubu seeks Senate approval to convert N7.3 trillion of CBN "ways and means" revenue into federal assets
• This goes against investigator's recommendation that balance was illegally incurred and should be reassessed first
• Report revealed CBN under Emefiele fraudulently used N26.6 trillion of ways and means advances
• Tinubu says securitization would reduce debt costs and improve budget deficit and transparency
• Senate invited to approve securitization of N7.3 trillion ways and means balance as of December 2023