The President’s requests for Ways and Means Advances from the Central Bank of Nigeria were partially accepted by the House of Representatives. The President is Major General Muhammadu Buhari (retired).
While the restructuring of N1 trillion WMAs was accepted by the House, the legislators abandoned their demand for N22,719,703,774,306.90 from the CBN.
The Joint Committees on Finance, Banking and Currency, and Aids, Loans and Debt Management recommended this, and it was presented before the House in plenary for consideration and adoption.
Reps move to make excessive public debt illegal President of the Senate Ahmad Lawan and Speaker of the House Femi Gbajabiamila respectively read out Buhari’s proposal to the members of their respective houses on December 21, 2022.