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.
The latest development is contrary to a bill passed by the national assembly which raised the maximum borrowing percentage in the act from five percent to ten percent.
According to the apex bank, the guideline aligns with the medium term fiscal framework, under which the CBN will manage expectations, implement time-consistent policies, address shocks to support the ongoing recovery, and ensure the country’s macroeconomic stability.