The House of Representatives has approved the request by President Muhammadu Buhari to secure an additional N1 trillion loan from the Central Bank of Nigeria (CBN) to fund the 2022 supplementary budget.
The CBN has already violated its enabling law by loaning the federal government more than the approved limit, PREMIUM TIMES reported. This did not, however, deter the lawmakers from approving the fresh loan from the central bank.
Also, the House suspended the request to securitize the N22.7 trillion Ways and Means loans pending more details from the Executive.
