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Nigerian Government to Conduct Audit of N23 Trillion Ways and Means Debt

Nigerian Government to Conduct Audit of N23 Trillion Ways and Means Debt

The Nigerian government has made the decision to conduct an audit of the N23 trillion Ways and Means debt that has been a burden on its finances.

The announcement was made by Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, during the ongoing Public Wealth Management Conference organized by the Ministry of Finance Incorporated.

Edun highlighted that the Federal Government intends to present a bill to the National Assembly in order to remove “all taxes and levies that constitute nuisance from the country’s tax system.” This move is seen as a step towards reducing future Ways and Means indebtedness.

The minister further emphasized that the government will actively pursue policies aimed at generating real-time revenue from Government Owned Enterprises and Corporate entities.

Further details will be provided soon.

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