The Senate on Wednesday rejected the President’s (retd.) request to reorganise the N22.7tn Ways and Means advances collected by the Federal Government from the Central Bank of Nigeria.Information Guide Nigeria
Buhari asked restructuring of the N22.7tn ways and means advances obtained from CBN over the last ten years, as well as N1tn to be collected as new domestic loan in a letter read on the Senate floor last week.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaIn the letter, he stated that ways and means included advances from the Central Bank of Nigeria to the Federal Government for emergency payment of budgetary shortfalls that had been postponed.NYSC portal
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The controversy began when the committee’s chairman, Solomon Adeola (APC Lagos West), was asked to deliver a report on it.JAMB Result
Some senators objected quickly as the Senate leadership attempted to obtain the report of its finance committee, which had recommended that the president’s request be granted.
Senator Betty Apiafi (PDP, Rivers) was the first to raise a constitutional point of order against it, claiming that the ways and means of expenditure are unknown to the Nigerian constitution.
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