The governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi on Monday said that the apex bank did not violate any section of the Nigerian constitution by donating money to bomb blast victims in Niger and Kano.
Mr Sanusi said this at an investigative hearing on the expenditure of public fund by the CBN and the Asset Management Corporation of Nigeria (AMCON) without approval by the National Assembly.
The House of Representatives had mandated its Committee on Banking and Currency to investigate the CBN governor’s N100 million donations to bomb blast victims in Kano.
Mr Sanusi said that the CBN had always intervened in the economic development of Nigeria.
“The legal basis for CBN intervention in certain sectors of the economy is contained in Section 31 of the CBN Act 2007,” he said.
The Speaker of the House of Representatives, Aminu Tambuwal, who was represented by Samson Osagie, said the hearing was to ensure accountability and fiscal discipline among institutions.
The CBN governor had been variously criticised for donating money to Madalla in Niger state and Kano bomb last victims leaving other victims out of the bank’s generosity.
Mr Sanusi also told the committee that the N620 billion intervention fund made available to some commercial banks was a loan that is within the banks powers to give.