{"id":106126,"date":"2023-07-16T17:36:20","date_gmt":"2023-07-16T16:36:20","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=106126"},"modified":"2023-07-16T17:36:20","modified_gmt":"2023-07-16T16:36:20","slug":"q1-2023-fgs-borrowing-from-cbn-hits-n25trillion","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/","title":{"rendered":"Q1 2023: FG\u2019s borrowing from CBN hits N25trillion"},"content":{"rendered":"<div id=\"m#msg-f:1771591284489971988\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">In the first quarter of 2023, the Federal Government borrowed N1.83tn from the Central Bank of Nigeria through Ways and Means Advances.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\n<div dir=\"auto\">\nThis pushed its borrowing from the CBN to N25.36tn in March 2023 from N23.53tn in December 2022.<\/p>\n<p>The Ways and Means Advance is a loan facility the central bank uses to finance the government during temporary budget shortfalls, subject to limits imposed by law.<\/p>\n<p>According to Section 38 of the CBN Act, 2007, the apex bank may grant temporary advances to the Federal Government concerning the temporary deficiency of budget revenue at such interest rate as the bank may determine.<\/p>\n<p>The Ways and Means Advance had been a subject of controversy.<\/p>\n<p>Financial experts believed the CBN exceeded its lending threshold to the federal government.<\/p>\n<p>Meanwhile, the Debt Management Office in May announced the securitization of CBN\u2019s N22.7 trillion Ways and Means advance to the federal government.<\/p>\n<p>Nigeria\u2019s total debt stock rose to N49.85 trillion without adding CBN\u2019s Ways and Means Loans.<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>In the first quarter of 2023, the Federal Government borrowed N1.83tn from the Central Bank of Nigeria through Ways and Means Advances. This pushed its borrowing from the CBN to&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":67910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-106126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Q1 2023: FG\u2019s borrowing from CBN hits N25trillion - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q1 2023: FG\u2019s borrowing from CBN hits N25trillion - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"In the first quarter of 2023, the Federal Government borrowed N1.83tn from the Central Bank of Nigeria through Ways and Means Advances. This pushed its borrowing from the CBN to&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-16T16:36:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2019\/07\/CBN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"450\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"Q1 2023: FG\u2019s borrowing from CBN hits N25trillion\",\"datePublished\":\"2023-07-16T16:36:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\"},\"wordCount\":173,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2019\/07\/CBN.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/news\/q1-2023-fgs-borrowing-from-cbn-hits-n25trillion\/\",\"name\":\"Q1 2023: FG\u2019s borrowing from CBN hits N25trillion - 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