FG to engage stakeholders on implementing Fiscal Responsibility Act
The Fiscal Responsibility Commission (FRC) says it will hold a stakeholders’ dialogue on implementing sections of the Fiscal Responsibility Act that relate to lending by banks to governments and public institutions.
FRC spokesman Bede Anyanwu, who stated this in a statement on Wednesday, said the event would be held in Lagos on Saturday.
The event is expected to bring together a diverse group of stakeholders including banking institutions, government representatives, economists, academics and experts in fiscal governance.
The Fiscal Responsibility Act 2007 (FRA) is Nigeria’s foremost legal framework for promoting, monitoring and enforcing fiscal discipline in the federation.
According to the statement, the FRA stipulates that lending by banks to governments or their agencies in contravention of certain provisions of the act shall be unlawful.
“Hence, the commission aims at using the stakeholder dialogue to refresh the attention of stakeholders to this provision of the act. It also seeks to engender stakeholder agreement on ways to enhance compliance, and thereby improve the nation’s debt management practices,” added the statement.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Sport
Switzerland reach 2026 World Cup quarter-final, edge Colombia in penalty shootout
Switzerland beat Colombia on penalties 4-3, after a goalless draw, in Vancouver to reach their first World Cup quarter-final in 72 years.
Diaspora
Nigerian govt mourns citizen Nnani Marian killed by Russian airstrike
The foreign affairs ministry has mourned Nnani Marian, a 23-year-old Nigerian medical graduate of Kharkiv National Medical University in Ukraine.
Education
Armed bandits attack, kidnap Nasarawa university students
The police said one of the abducted students was rescued.
States
Kaduna to procure 120,000 bags of fertiliser, construct 11 roads in Zaria
Kaduna State Executive Council approved the procurement of 6,000 metric tons of fertiliser, which translates to 120,000 bags of the farm input, to support smallholder farmers.
States
Alleged kidnappers shot dead in Akure, police say
The police command in Ondo state says two suspected kidnappers were killed during a gun duel with operatives along the Akure–Owo Expressway in Ilu-Abo, Akure North council area.
Anti-Corruption
U.S. defence official convicted for aiding Nigeria-based scammers launder millions of dollars
Mr Marcus is scheduled to be sentenced on October 16 and faces a maximum possible term of 20 years in prison, three years of supervised release, and a $250,000 fine.
