The Fiscal Responsibility Commission (FRC) has said it will hold a stakeholders’ dialogue on the implementation of sections of the Fiscal Responsibility Act that relate to lending by banks to governments and public institutions.
FRC’s Head of Strategic Communications, Mr Bede Anyanwu, in a statement made available to Tribune Online on Friday in Abuja, said the event would be held in Lagos on Saturday, October 7, 2023.
Anyanwu said that the event will bring together a diverse group of stakeholders, including banking institutions, government representatives, economists, academics and experts in fiscal governance.
He said that the Fiscal Responsibility Act 2007 (FRA) was Nigeria’s foremost legal framework for promoting, monitoring and enforcing fiscal discipline in the federation.
He said that the FRA stipulates that lending by banks to governments or their agencies in contravention of certain provisions of the Act shall be unlawful.
“The commission aims at using the stakeholders’ 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,” Anyanwu said.
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