In an effort to establish firm control over his Administration, President Bola Ahmed Tinubu has reportedly instructed the Central Bank of Nigeria (CBN) to halt all payments to the Ministries, Departments, and Agencies (MDAs) of the Federal Government until further notice.
A statement from the Presidency revealed that this order was issued prior to the suspension of CBN boss Godwin Emefiele, who was subsequently handed over to the Department of State Services (DSS) for further action. The directive, which was issued immediately after President Tinubu assumed office, aims to ensure accountability within the MDAs and prevent the misappropriation of government funds.
The source emphasized that the directive is comprehensive and applies to all MDAs without exceptions. As a result of this development, the MDAs have implemented a complete embargo on payments to their creditors and are facing operational difficulties due to the lack of funds from the government and the CBN.
