The Senate of the Federal Republic of Nigeria today held emergency plenary which was presided by the Senate President, Dr Ahmad Ibrahim Lawan.
The plenary held to amend the Central Bank of Nigeria, CBN, Act with an increase of advances from five percent to fifteen percent
The sponsor of the bill, Senator Gobir Ibrahim Abdullahi representing Sokoto East Senatorial District said the bill to amend the CBN Act was first read on Wednesday May 24, 2023.
He explained that there was need for the Ways and Means request to be increased from the current five percent to fifteen percent to enable the Federal Government meet its financial obligations.
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