The Senate is in emergency plenary over the amendment of the Central Bank of Nigeria (CBN) Act, 2004.
According to the order paper, the bill up for debate include ‘A Bill for an Act to Amend the 2022 Supplementary Appropriation Act and for other matters connected therewith, 2023 (SB. 1124) – Second Reading. (Sen. Gobir, Ibrahim Abdullahi (Sokoto East-Senate Leader).’
Also to be debated by the lawmakers is ‘A Bill for an Act to Amend the Central Bank of Nigeria Act C4 Laws of the Federation of Nigeria 004 and for Other Matters Connected Thereto, 2023 (SB. 1125) – Second Reading Sen. Gobir, Ibrahim Abdullahi (Sokoto East-Senate Leader).”
Read Gobir’s leade debate:
LEAD DEBATE ON THE CENTRAL BANK OF NIGERIA ACT (AMENDMENT) BILL, 2023 (SB. 1125).
– Sen. Gobir, Ibrahim Abdullahi (Sokoto East-Senate Leader).
Mr. President, my respected colleagues, permit me to lead the debate on this Bill which seeks to amend the central Bank of Nigeria (CBN) Act to increase the total CBN advances to Federal Government from five percent (5%) to a Maximum of fifteen percent (15%).
The Bill was read for the first time in this Chamber on Wednesday, 24th May, – 2023.
The very essence of this Bill my respected colleagues is to enable the federal __ Government meet its immediate and future obligation in the approval of the ways and means by the National Assembly and advances to the Federal Government by the Central Bank of Nigeria.
This amendment is very consequential and it needs the support of us all. This is to enable the Federal Government to embark on very important projects that will inflate and rejig the economy.
I therefore urge you all to support the passage of this Bill.
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