NEWS: Buhari Urges AACB To Stop Using Central Bank For Illicit Funds

The President Of Nigeria, Muhammadu Buhari today made a call with all Central Banks In Africa to bring an end to all illicit flow of funds out of the continent.

President Muhammadu Buhari stated this while speaking at the opening session of the 2016 annual meeting of the Association of African Central Banks

However, President Buhari regrets deeply that the African financial system had come to a veritable platform for the transfer of stolen funds.




"In Nigeria, the Central bank Of Nigeria has for many years spearheaded economic stimulus measure through specific intervention programs. I think these measures should be sustained through good times and through rough times ," he said 

Rather than using the bank as a platform to transfer illicit fund, Buhari advised the governors to use it to develop a momentary policy that can take out the continent form economic doldrums.

"We fully understand that the momentary policy alone is not enough to bring about desired economic growth. we must carefully balance monetary and fiscal policy measures.

"For us in Nigeria, while recognizing the challenges we are confronted with and the need to surmount them, we are determined to diversify the economy away from excessive reliance on oil and other primary products. Consequently, we are taking measures and implementing policies that will ensure we are self-sufficient, generate massive employment for millions of youth, and explore our untapped human and natural resources,"he said.