Tag
WAYS AND MEANS
President Bola Tinubu has stated that the federal government has cleared Ways and Means debt of over N30 trillion.
The Central Bank of Nigeria (CBN) has reaffirmed that its Ways and Means Advances to the federal government will continue to be maintained at the 5% threshold for fiscal years 2024-2025.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has stated that the federal government is looking at granting outright tax breaks to companies employing more staff.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the federal government has settled a swooping N7.3 trillion in ways and means advances to the Central Bank.
Nigeria's Senate ha established an ad-hoc committee to investigate President Buhari's N30 trillion "ways and means" and the anchor's program.
The Nigerian Senate in an emergency plenary session on Saturday, amended the Central Bank of Nigeria (CBN) Act to increase the total CBN advances (Ways and Means provision) to the Federal Government from 5% to a maximum of 15%.
The CBN has extended a total sum of N19.9 trillion circa (N20 trillion) in loans to the Nigerian Government under its Ways and Means provision as included in the CBN Act.
The MPC urged the CBN to increase its lending to the government as it believes it will help reflate the economy from its recession.
Balami Dahiru Hassan, a member of the revered Central Bank Monetary Policy has expressed concerns over the excessive...