The Senate of the Federal Republic of Nigeria on Saturday held emergency plenary which was presided by the Senate President, Dr Ahmad Ibrahim Lawan. The
The Senate of the Federal Republic of Nigeria on Saturday held emergency plenary which was presided by the Senate President, Dr Ahmad Ibrahim Lawan.
The sponsor of the bill, Senator Gobir Ibrahim Abdullahi representing Sokoto East Senatorial District said the bill to amend the CBN Act was first read on Wednesday May 24, 2023. Senator Abdullahi said: “The Bill seeks to amend the Central Bank of Nigeria, CBN, Act to increase the total CBN advances to Federal Government from five percent to a Maximum of fifteen percent .“The very essence of this Bill my respected colleagues is to enable the Federal Government meet its immediate and future obligation in the approval of the ways and means by the National Assembly and advances to the Federal Government by the Central Bank of Nigeria.
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