Reps approve Buhari’s N22.7trn 'Ways and Means' loan request
IN quick succession, the House of Representatives gave approval to the request by President Muhammadu Buhari, 'Ways and Means' N22.7 trillion loan request which authorises the Federal Government to borrow money from the Central Bank of Nigeria, CBN. It would be recalled that the Senate last Wednesday gave its nod to the request. Ways and Means provision allows the government to borrow from the apex bank to meet financial emergencies. The Federal Government had said it would repay the loan which as at December, 2022 stood at N22.7 trillion with securities such as treasury bills and bonds issuance. The report presented by three Committees of Finance, Banking and Currency, Loans and Aid Management stood in the name of the chairman, Committee on Finance, James Faleke at the committee. "That the House do consider the Report of the Committees on Finance, Banking and Currency and Aids, Loans and Debt Management on the Restructuring of Ways and Means Advances and approve the reco...