The House of Representatives, at a special plenary on Sunday approved extension for implementation of capital component of the N819 billion 2023 supplementary budget.
The House at the session also passed the amendment Bill to the Act establishing the Central Bank of Nigeria (CBN), and that to Mobilisation, Allocation and Fiscal Commission Act, 2004 and Enact the Revenue Mobilisation, Allocation and Fiscal Commission Bill to Grant the Commission Enforcement Powers in the Monitoring of Accruals to and Disbursement of Revenue from the Federation Account and to bring the Act in conformity with the provisions of the 1999 Constitution (as amended).
The Senate had during a similar session on Saturday passed same.
The House at the session passed the amendment to the 2004 Act of the Central Bank of Nigeria (CBN) for increase of threshold of Ways and Means borrowings from 5% to 15%.
The N819billion 2022 supplementary budget approved for the executive by both chambers in December 2022 has not been implemented due to lack of, poor funding, prompting the adjustment.
