Law Bars CBN From Advancing More Loans To FG — Cardoso
He said; “I am pleased to note the fiscal authorities’ efforts in discontinuing Ways and Means advances. This is also in compliance with Section (38) of the
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He said; “I am pleased to note the fiscal authorities’ efforts in discontinuing Ways and Means advances. This is also in compliance with Section (38) of the
He noted that it was one of the measures taken by the apex bank to curtail the economic downturn currently plaguing the country.
Cardoso, who spoke on Friday in Abuja, said until the previous loans are repaid, no more would be given out.
Against the backdrop of recent protests in Kano and Niger states over the level of suffering Nigerians are currently experiencing, Civil Society Organisations (CSOs) and some other stakeholders have warned President Bola Ahmed Tinubu against joking with the development.
Cardoso has said that the apex bank will no longer give Ways and Means to the Federal Government until the previous loans are repaid.