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)
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