The Fiscal Responsibility Commission (FRC) stated it would maintain a Stakeholders dialogue, on the implementation of sections of the Fiscal Responsibility Act that relates to lending by banks to governments and public establishments.
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FRC’s Head of Strategic Communications, Mr Bede Anyanwu, who acknowledged that is in a press release on Wednesday in Abuja, stated the occasion would maintain in Lagos on Saturday.
Anyanwu stated that the occasion is predicted to deliver collectively a various group of stakeholders together with banking establishments, authorities representatives, economists, lecturers and specialists in fiscal governance.
He stated that the Fiscal Responsibility Act 2007 (FRA), was Nigeria’s foremost authorized framework for the promotion, monitoring and enforcement of fiscal self-discipline within the federation.
He stated that the FRA stipulates that lending by banks to governments or their businesses in contravention of sure provisions of the Act shall be illegal.
“Hence, the fee goals at utilizing the Stakeholder Dialogue to refresh the eye 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,” Anyanwu stated.
