FG to Borrow 11 trillion for 2023 Budget, to Spend 3 trillion on Fuel Subsidy The federal government has revealed plans to borrow about N11.3 trillion to fund expenditure in the 2023 budget. Noting that the deficit is projected to exceed 12.41 trillion in 2023...

Fed Govt Uncomfortable Exceeding Borrowing Limit – Ahmed   The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the Federal Government is very uncomfortable with the fact that it exceeded the borrowing threshold in the Fiscal Responsibility Act. Ahmed, who spoke at the ongoing...

Senate Moves To End MDAs Frivolous Spending         The Senate on Monday stated its commitment to amend the Fiscal Responsibility Act this year. The Chairman, Senate Committee on Finance, Senator Solomon Adeola, stated this on Monday at an investigative hearing undertaken by his panel with federal ministries...

Banks Shouldn’t Lend To States Without Our Approval – FRC       The Fiscal Responsibility Commission said on Sunday that no Deposit Money Bank should lend money to any state without the approval of the commission. The FRC said this was in line with the provisions of the...

FRC: 122 Agencies To Remit N1.8trn Surplus To Govt       The Fiscal Responsibility Commission (FRC) has compelled 122 agencies to remit N1.8 trillion surplus to the Consolidated Revenue Fund. Its Acting Chairman, Victor Muruako gave the order when the Executive Director, Civil Society Legislative Advocacy Centre (CISLAC)/Transparency...

FG, States Contravene FRA Via High Interest Loans, Says FRC The Federal Government and state governments have been violating the Fiscal Responsibility Act by borrowing high interest loans, the Fiscal Responsibility Commission has said. In its 2017 Annual Report and Audited Accounts obtained by our correspondent...