• News - North Central - FCT
  • Updated: October 04, 2023

FRC To Host Stakeholders' Dialogue On Fiscal Responsibility Act

FRC To Host Stakeholders' Dialogue On Fiscal Responsibility

The Fiscal Responsibility Commission (FRC) has announced plans to convene a stakeholders' dialogue aimed at discussing the implementation of sections of the Fiscal Responsibility Act that pertain to lending by banks to governments and public institutions.

In a statement issued on Wednesday, FRC spokesman Bede Anyanwu disclosed that the event is scheduled to take place 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,” it added the statement.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...


We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings