The House of Representatives is calling on President Muhammadu Buhari to implement Section 42 of the Fiscal Responsibility Act.
The section mandates the President to set limits for consolidated debts of the federal, states and local governments.
In a motion by the Chairman, House Committee on Banking and Currency, Rep. Chukwudi Onyereri, the House is urging the President to take action on the matter within the next 90 days
The House believes different tiers of government have shown indiscretion and recklessness in the borrowing process due to the non-implementation of this section of the Act. (Channels TV)
•Photo shows President Buhari.
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
