BREAKING: Opposition reps walk out of plenary over bill to raise ways and means to 10%

There was chaos at the house of representatives on Wednesday over a bill seeking to raise the ways and means cash advances from five percent to 10 percent.

Opposition parties staged a walk out during plenary after an amendment by Kingsley Chinda, the minority leader, that the ways and means be reduced to two percent was rejected.

The existing law provides that the advance by the Central Bank of Nigeria (CBN) must not exceed five percent of the previous year’s revenue of the federal government.