* Extends implementation of 2022 supplementary budget to Dec Udora Orizu in Abuja In an emergency plenary session on Sunday, the House of Representatives passed a Bill which seeks to
In an emergency plenary session on Sunday, the House of Representatives passed a Bill which seeks to amend the Central Bank of Nigeria Act regarding the Ways and Means Advances policy.
He said: “Mr. Chairman, does it mean with this amendment that the CBN somehow advances to government at 10% or is it a wakeup call at the twilight of this government we are changing this from 5% to 15%? Can the Chairman, Banking and Currency kindly explain not only to the National Assembly but to Nigerians.
Also during the session, the lawmakers passed through third reading a bill seeking to extend the implementation of the 2022 Supplementary Appropriation Act from 30th June, 2023 to 31st December, 2023. The amendment specifically seeks to increase the total CBN advances to the federal government from five per cent to a maximum of 15 per cent.
“Does it mean the CBN granted this advances at 15% or what is going on?This is what we don’t know Chairman. I’m a member of the Committee on Banking and Currency. I didn’t know when this discussion took place. I can stand on privilege Order 6 to call for an explanation as a member of this committee, how did we reach this amendment, please?”
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