Abuja, Oct.4, 2023: The Fiscal Responsibility Commission (FRC) is to hold a stakeholders dialogue with bank operators, key stakeholders in the financial sector on how to improve the nation’s debt management practices.
This is contained in a statement by the Commission’s Head of Strategic Communications, Mr Bede Anyanwu on Thursday in Abuja.
The statement revealed that the dialogue which is to take place on Saturday in Lagos, will involve government representatives, economists, academics and experts in fiscal governance.
According to the statement, the engagement was also aimed at implementing sections of the Fiscal Responsibility Act that relates to lending of money from banks to government and public institutions of the Federation.
Anyanwu said that according to the Fiscal Responsibility Act 2007 (FRA), lending by banks to Ministries, Departments and Agencies (MDAs) in contravention of certain provisions of the Act shall was considered unlawful.
He said that the Commission aims at using the meeting to refresh the attention of stakeholders to the provision of the Act and to foster stakeholders agreement on ways to enhance compliance.