UPDATE: Federal Executive Council approved the amendment of the 2022 budget

Nigeria’s Federal Executive Council (FEC). President Muhammadu 

The Federal Executive Council has supported a proposed alteration to the 2022 spending plan following the underlying changes made by the National Assembly to the proposition presented by President Muhammadu Buhari in 2021.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the supported alterations to be sent to the National Assembly would demand to annul conditions 10 and 11 concerning the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit tasks in the 2022 budget and to reestablish what the legislators had erased adding up to N103bn.

She said: “Condition 10 is alluding to an arrangement that has been made that can empower the EFCC and NFIU take 10% of whatever assortments that they recuperate.

“We’re requesting that to be canceled on the grounds that this is in direct differentiation to the Acts of these two organizations and furthermore it is in contradiction of the Fiscal Responsibility Act and the Finance Act 2021.

“Statement 11, then again, is an arrangement that has been made that says that the Nigeria consulates and missions are currently approved by this Appropriation Act to use reserves allotted to them under Capital Components without the need to look for endorsement of the Federal Ministry of Foreign Affairs.

She said FEC additionally confirmed an instrument on strategic relations among Nigeria and South Africa with the approaching of Africa’s Continental Free Trade Agreement. 

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