DBN disbursed N130bn through 21 microfinance banks


The House of Representatives Committee on Public Accounts in its two-year report has frowned at the failure of the Development Bank of Nigeria (DBN) to render its annual financial reports to the office of the Auditor General of the Federation in line with extant provisions of the 1999 Constitution and relevant financial regulations.

According to the report laid before the House prior to the end of the Second Legislative year of the 9th Assembly, the bank came into operations in 2017 after the collaboration between the Federal Government and following Development Partners – African Development Bank, the World Bank, German Development Bank, France Development Bank and the CBN with 75%…

Source: Nigerian Tribune