1 month ago
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Opposition members in the House of Representatives staged a walkout during the plenary on Wednesday over a bill seeking to raise the ways and means cash advances from five percent to ten percent.
Naija News reports that the existing law provides that the advance by the Central Bank of Nigeria (CBN) must not exceed five percent of the previous year’s revenue of the federal government.
However, the decision to raise the ways and means led to chaos in the house after an amendment by the minority leader, Kingsley Chinda, that the ways and means be reduced to two percent was rejected.
More details to come…
Rachel Okporu is an entertainment and lifestyle journalist with years of experience in the industry. She is a graduate of Linguistics and Communication Studies. Likes surfing the Internet and making new friends.
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