A Deputy Governor of the Central Bank of Nigeria (CBN) and a ministerial nominee, Dr. Shamsudeen Usman says it only $8.8 billion of Nigeria's $43.6 billion foreign reserve is available for spending. Answering a question from the Senate on Tuesday as to why the reserve was so fat in a country where a mass of its people are impoverished, Usman said: "I am happy that the question has been asked because there is so much confusion about the people here that we have $43 billion. In fact, as at yesterday (Monday), it was $43.6 billion in reserves and people think that the same amount of $43 billion is to be spent. Now, if you break down this $43 billion, about $31 billion or 71 per cent of this amount belongs to the Central Bank. So, we are like a Bureau de Change. The money was earned by the federation; they brought the dollar to the Central Bank. We took the dollar and gave them naira and they have spent the money. So, all the three tiers of government have shared this $31 billion and spent it." The CBN chief likened the confusion on the issue to a customer who goes to a Bureau de Change, exchanges his dollars for naira, returns the next day to ask for the dollars back after spending the naira.