Towing the path of the Upper Chambers, the House of Representatives has approved the securitisation of the Ways and Means N22.7 trillion loan request by President Muhammadu Buhari.
This was sequel to a report by the Chairman, House Committee on Finance, James Faleke which also recommended approval for an additional N1 trillion Ways and Means advances for the implementation of the 2022 Supplementary Appropriation Act as passed by the National Assembly.
Ways and Means provision allows the government to borrow from the Central Bank of Nigeria (CBN) 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.
