Reps set new limit of 10% for CBN’s loans to FG
On Wednesday, during its emergency session, the House of Representatives approved a new ceiling of 10 per cent for Central Bank of Nigeria’s (CBN’s) Ways and Means advances to the Federal Government amidst disagreement. Section (38) of the CBN Act (2007) limits such advances under ways and means to five per cent of the previous year’s revenue. The House Committee …
