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FAAC Meeting: Nigeria, disturbed about dwindling revenue- Perm Sec, Finance

The impact of the crude  oil price and quantity shock which has assailed Nigeria’s economy  since last year has continued unabated leading to a situation where the Budget Office of the Federation now finds it difficult to cash-back quarterly capital vote releases.

And disturbed by the development, the Fiscal Liquidity Committee consisting of the Federal Ministry of Finance, the Central Bank of Nigeria and the Office of the Accountant General of the Federation is meeting in Abuja this morning to assess the country’s liquidity position.

 

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