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Nigerian Central Bank Head Offers to Resign, BusinessDay Says

Dec. 2 (Bloomberg) -- Lamido Sanusi, governor of the Central Bank of Nigeria, offered to resign if parliament wants him to go, after he accused lawmakers of soaking up much of the federal budget, BusinessDay reported.

Sanusi made the statement yesterday at a parliamentary hearing into comments he made at the weekend, when he said 25 percent of the government’s recurrent expenditure goes to the legislature alone, the Lagos-based newspaper said.

Pressed to apologize by lawmakers, the governor refused, the newspaper said. Citing figures from the budget office, Sanusi said the government’s recurring expenditure was 536.3 billion naira ($3.6 billion), of which 136.3 billion naira went to the parliament, according to the newspaper. Lawmakers disputed the figures.

Nigeria will post a budget deficit this year equivalent to 6.1 percent of gross domestic product after revenue missed forecasts, Finance Minister Olusegun Aganga said on Nov. 29.

To contact the reporter on this story: Paul Okolo in Abuja pokolo@bloomberg.net.

To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

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