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FG to audit N23trn Ways & Means — Edun

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, said that the Federal Government is to audit the N23 trillion Ways and Means.

 

The Minister who disclosed this at the opening of the Public Wealth Management Conference on Tuesday in Abuja pointed out that the decision to audit the federal government debt to the CBN was to ensure that the federal government was not made to pay for funds it did not spend.

Ways and Means is the expression for money borrowed by the federal government from the Central Bank of Nigeria (CBN).

According to the minister, the administration was working hard to make the Nigerian business space more attractive to investors by eliminating all unnecessary taxes.

Mr. Edun also said all government-owned enterprises (GOEs) would be made to up their game in revenue generation.

In addition, Nigerian National Petroleum Corporation Limited, NNPCL, he disclosed, has been asked to improve oil output with a view to increasing oil revenue in the country.

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