The Central Bank of Nigeria, (CBN), has confirmed that it will sustain its ‘Ways and Means’ advances to the Federal Government at a 5 percent limit for the fiscal years 2024-2025. This information is based on the ‘Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the Fiscal Years 2024-2025’, published by the apex bank yesterday. The latest development is contrary to a Bill passed by the National Assembly which raised the maximum borrowing percentage in the Act from 5 to 10 percent. The guideline aligns with the Medium-term Expenditure…
Read MoreCBN defies NASS, maintains 5% ‘Ways & Means’ Advance limit
