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Tuesday, April 16, 2024

FG to audit N23trn Ways and Means debt

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The Federal Government of Nigeria has resolved to audit the N23 trillion Ways and Means debt hanging on its neck.

This was made known by Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, at the ongoing Public Wealth Management Conference organized by the Ministry of Finance Incorporated.

According to the Minister, the Federal Government, as a measure to wean itself from future Ways and Means indebtedness, will soon present a bill to the National Assembly that would authorize the removal of “all taxes and levies that constitute nuisance from the country’s tax system”.

Edun added that the Nigerian Government will vigorously pursue policies that will allow it to harvest revenue in real time from Government Owned Enterprises and Corporate entities.

Details shortly…

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