Expert Cautions FG On Further Breach Of Debt Limit After Ways And Means Raises Nigeria’s Debts To N68.9trn

Uche Uwaleke, a Professor of Capital Market has warned the Nigerian Government against further breaching of the permisible limit which the Central Bank of Nigeria funds the government as enshrined in the CBN Act.

Nigeria’s total debt has risen 32.5 per cent from N46.25trn ($103.1bn) to N68.9trn ($153.7bn) after poor management of ways and means borrowing given to the Federal Government by the Central Bank led to the securitasation of the debt against the law establishing the apex bank.

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