CBN Takes Down Report On Fresh N3.8tn From Ways & Means Loans

The Central Bank of Nigeria (CBN) provided a fresh loan of N3.8 trillion in Ways and Means to the federal government during the second half of 2023.

According to figure rose to N8.2 trillion in December from N4.4 trillion at the end of June 2023,

According to CBN data for the fourth quarter of 2023 the total, ways and means granted to the federal government increased to N8.2 trillion by December 2023, up from N4.4 trillion which it was at the end of June 2023, BusinessDay reports.

However, LEADERSHIP checks reveal that the said report, which was uploaded on the CBN website on April 19, 2024 has been taken down as efforts to download the report returned with a message that the report can not be found.

As at May 2023 when President Bola Ahmed Tinubu took over the steering of the country, total Ways and Means balances stood at N26.95 trillion, however, these balances were incorporated into the federal government’s domestic debt profile.

By the end of June 2023, the balance had decreased to N4.36 trillion, possibly indicating a transfer of funds to the Debt Management Office. Subsequently, starting from July 2023, the balances consistently grew each month: reaching N4.5 trillion in July, N5.1 trillion in August, surpassing the N5.1 trillion mark for the first time.

helinues:
Proofs or

Blaze14k:
The Central Bank of Nigeria (CBN) has removed the data which provided a fresh loan of N3.8 trillion in Ways and Means to the federal government from its website. Naija News earlier reported that the Tinubu government took the loan during the second half of 2023

This is according to provisional data published in the latest statistics bulletin for the fourth quarter of the year recently released by the apex bank.

This is despite the claim by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, that the Tinubu government had not borrowed money from the CBN.

The CBN’s provisional data also showed that the total figure rose from N4.4 trillion at the end of June 2023, meaning that the cumulative Ways and Means balances due by the government grew to N8.2 trillion as of December 2023.

This publication understands that total Ways and Means balances as of May 2023 when the Tinubu administration took over N26.95 trillion. However the balances were securitised and included as part of the federal government’s domestic debt profile.

A breakdown of the data shows that the balance at the end of June 2023 was N4.36 trillion, indicating that the prior month’s balances may have been moved to the Debt Management Office (DMO).

From July 2023, the balances increased every month, first to N4.5 trillion in July, then N5.1 trillion in August, crossing the N5.1 trillion mark for the first time.

By September, the total was N6.4 trillion, representing the single largest additional borrowing for a month with about N1.3 trillion. It then climbed to N7.2 trillion in October before rising marginally to N7.6 trillion in November

At the end of the year, in December, the total hit N8.21 trillion, suggesting that Ways and Means increased by 88 per cent in six months.

However, a check by Naija News shows that the data which was uploaded on the CBN website on April 19, 2024, has been taken down as efforts to download the report returned with a message that the report can not be found.

https://www./2024/04/28/cbn-removes-report-on-fresh-%e2%82%a63-8-trillion-loan-from-tinubu-govt/

MsAllison:
Tinubu is a criminal