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House Of Representatives Erupts Over Controversial 10% Ways And Means Proposal
House Of Representatives Erupts Over Controversial 10% Ways And Means Proposal
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.
Ireporteronline 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…
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