There was rowdiness at the house of representatives on Wednesday, July 31, over the ways and means bill .As reported byThe Guardian, the debate among the federal lawmakers centred on a bill seeking to raise the ways and means of cash advances from the Central Bank of Nigeria (CBN) from five percent to 10 percent. ‘Ways and means’ in the Nigerian context occur when the federal government obtains loans from the CBN….READ FULL ARTICLE...READ THE FULL ARTICLE HERE ▶▶
In February, senators lamented that the ways and means approved by the 9th national assembly plunged the nation into economic crisis and indebtedness.
Presently, Nigerians are grappling with deteriorating living standards and increased economic hardships and some of them have threatened to protest, starting Thursday, August 1.
During plenary on Wednesday, July 31, opposition party members staged a walkout after an amendment by Kingsley Chinda, the minority leader, that the ways and means be reduced to two percent was rejected, The Cable noted.
Lawmakers who voted in support of the increase from five to 10 per cent included Abubakar Yalleman (All Progressives Congress, APC, Jigawa), Saidu Abdullahi (APC, Niger), and Ibrahim Wase (APC, Plateau), among others.
When the bill was put to a voice vote by Benjamin Kalu, the deputy speaker, who presided over the plenary session, lawmakers voted against the proposed percentage.
However, Kalu ruled in favour of the ayes, prompting a walkout by opposition lawmakers.
Watch the discourse concerning the ways and means below:
The House of Representatives passed a bill to amend the Central Bank of Nigeria Act, increasing the CBN's total advances to the Federal Government from 5% to a maximum of 10% and addressing other matters. pic.twitter.com/1BXXIM0YAh
— Imran Muhammad (@Imranmuhdz) July 31, 2024
Agbese refuted claims that the Dangote Refinery is involved in reselling crude oil shipments….READ FULL ARTICLE
