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Business & Finance

Buhari Writes N’Assembly On NNPC, CBN

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President Muhammadu Buhari has written the National Assembly to submit the 2016 budgets of 38 of the agencies listed under the Fiscal Responsible Act, 2007.
By the provision of the Act, it is expected to be laid before the National Assembly three months to the end of any running financial year.
The Act provides that the budgets of the listed agencies should be attached to the national budget and presented to the National Assembly for consideration and approval each budget year.
He submitted budgets of the Nigerian National Petroleum Corporation; Central Bank of Nigeria; Nigerian Customs Service and the Nigerian Insurance Deposit Corporation.
Althought the 2016 budget had also been passed before the President’s letter was read by the Speaker of the House of Representatives, Mr. Yakubu Dogara, to lawmakers on the floor on Tuesday.
However, members admitted the letter.

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