Finance Ministry Suspended Governor Adhikari

Finance Ministry Suspended Governor Adhikari

April 9, 2022, 8:13 a.m.

After the intensification of disputes with Finance Minister Janardan Sharma over not allowing 40 million dollar equivalent money from the United States, the Ministry of Finance suspended Nepal Rastra Bank governor Maha Prasad Adikari.

Recently, a group are lobbying through Minister of Finance Janardan Sharma to bring the money which is reportedly under investigation in money laundering. Despite Minister Sharma’s pressure, Governor Adhikari insisted to see the sources of money.

According to daily media quoting anonymous sources confirmed the suspension of the governor of the central bank from his post with the initiation of an investigation on him.

According to the Ministry of Finance, a three-member committee led by a former judge of the Supreme Court is formed to look into the issue. The committee was formed as per the Nepal Rastra Bank Act, 2002.

The inquiry committee should submit its recommendations along with its findings to the government within a month.

Finance Minister Janardan Sharma had shared a stage with Governor Adhikari on Friday morning at a conference organized by the NRB where the former had accused the governor of not providing appropriate suggestions to the government when needed. The central bank is the advisor of the government.

Of late, there were differences between the governor and finance minister about managing the economy, and especially the share market, which had confused the private sector.

Adhikari said that he had not received the letter of his suspension till late at night on Friday. He maintained that he will comment on the issue after receiving the letter.

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