- The Nigerian government has increased its borrowings from the Central Bank of Nigeria’s Ways and Means
- The current borrowing is not part of the total debt profile that the federal government owes
- The government said it had spent billions in servicing CBN’s Ways and Means Advances in the two years
The Nigerian government has borrowed N6.31 trillion from the Central Bank of Nigeria through Ways and Means Advances in the last 10 months.
The latest figure has driven FG’s borrowing from the apex bank from N17.46 trillion in December 2021 to N23.77 trillion in October 2022.
