PRES. TRUMP AWARDED INAUGURAL FIFA PEACE PRIZE AT WORLD CUP DRAW IN WASHINGTON . (PHOTOS).

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 President Trump awarded inaugural FIFA Peace Prize at World Cup draw in Washington  Gianni Infantino, the FIFA President presented the honour onstage at the Kennedy Center for the Performing Arts on Friday, saying Trump had been selected “in recognition of his exceptional and extraordinary actions to promote peace and unity around the world”. “This is your prize, this is your peace prize,” Infantino said, after Trump took the stage to accept the trophy, a medal and certificate. “There is also a beautiful medal for you that you can wear everywhere you want to go.”   FIFA says the prize is for “individuals who help unite people in peace through unwavering commitment and special actions”.  Accepting the award, Trump called it “one of the great honours of my life”, before claiming to have “saved millions and millions of lives – the Congo is an example, over 10 million people killed and it was heading for another 10 million very quickly. India and Pakistan, so many diffe...
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AUDITOR-GENERAL QUERIES CBN OVER $4.5BN MISSING FROM FOREIGN RESERVES. (PHOTO)

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 Auditor-General queries CBN over $4.5bn missing from foreign reserves

Auditor-General of the Federation, Shaaka Chira, has asked the Central Bank of Nigeria to offer an explanation for a missing $4.5 billion fund.


An audit report from the Office of the Accountant General said the missing sum was unaccounted for in Nigeria’s foreign reserves between 2018 and 2019.


The yearly audit report provides comprehensive information about the spending and financial affairs of the various ministries, departments, and agencies under the government in a fiscal year.


According to the report, the country’s foreign reserves, which stood at US$42,594,842,852.75 in December 2018, decreased to US$38,092,720,200.72 in 2019. By a simple calculation, US$4,502,122,652.03 could not be accounted for.


The violation occurred following the COVID-19 outbreak, during the tenure of Godwin Emefiele, the former governor of the apex bank currently standing trial in court over corruption allegations.


The Accountant-General has now urged CBN to offer explanations for the missing sum.


The audit report, stressing that the stability of the exchange rate may be jeopardised if the apex bank fails to justify the fund, stated: “This violates Section 25 of the Central Bank of Nigeria Act 2007, mandating the bank to endeavour to maintain external reserves at levels considered to be appropriate for the economy and the monetary system of Nigeria.”

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