CBN Sticks to 5% Ways and Means Loan Limit Despite National Assembly Bill

The Central Bank of Nigeria (CBN) has confirmed its decision to keep the Ways and Means Advances to the Federal Government capped at five per cent for the 2024-2025 fiscal years, despite a proposal from the National Assembly to increase this limit to ten per cent. In a compelling discussion with Muktar Mohammed, CEO of Asher Investment Limited, we unpack the implications of this decision and its potential impact on Nigeria's economy. Muktar raises critical questions about the authority behind the CBN’s decision and how the new guidelines will affect borrowing limits. We also examine the recent inflation trends, with the National Bureau of Statistics reporting a decline to 32.15%, and consider the challenges outlined by the CBN for the upcoming fiscal year, including fuel subsidy removal and rising external debt obligations.

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