PMB Submits CBN, 37 Other Agencies' 2016 Budgets To NASS For Approval

President Muhammadu Buhari has submitted the 2016 Budget proposals of the Central Bank of Nigeria (CBN) and 37 other Agencies and Corporations of government to the National Assembly for consideration and passage.

According to a letter separately addressed to the Senate President Bukola Saraki and Speaker of the House of Representatives Yakubu Dogara dated Thursday, June 30, 2016 and read on the floor of the House ,Buhari said the action was in line with the provisions of the Fiscal Responsibility Act, 2007.
The Act provides that the budget of the Agencies listed in the Act be collated and forwarded to the National  Assembly for consideration.
The President however pointed out to the lawmakers that in line with the provision of the Act, budget of the Agencies and Corporations which have been privatised or otherwise ceased to exist are not included in the submission to them.
The other Agencies and Corporations include the Bureau of Public Enterprises (BPE); Nigerian Airspace Management Agency (NAMA); Nigerian Shippers Council; Nigerian Postal Service; Nigerian Ports Authority (NPA); Raw Material Research and Development Council (RMRDC); Security and Exchange Commission (SEC); Federal Airport Authority of Nigerian (FAAN); and News Agency of Nigeria (NAN).
Others are Corporate Affairs Commission (CAC); Radio Nigeria; Nigerian Television Authority (NTA); Federal Housing Authority (FHA); Federal Mortgage Bank (FMB); Standard Organisation of Nigeria (SON); Nigerian Nuclear Regulatory Authority (NNRA); Federal Inland Revenue Service (FIRS); Nigerian Deposit Insurance Corporation (NDIC); among others.
"May I please pray the House of Representatives to expeditiously consider and approve the budgets of these Agencies and Corporations to enable them effectively execute their mandates," Buhari said in his letter.

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