Nigerian Government Borrows N2.45tn From CBN Amid Fiscal Risks

The Federal Government’s total borrowing from the Central Bank of Nigeria through Ways and Means Advances rose from N17.46tn in December 2021 to N19.91tn in June 2022. <br />Data from the CBN says this shows that the Federal Government borrowed N2.45tn from the apex bank within six months. <br />The N19.91tn owed the apex bank by the Federal Government is not part of the country’s total public debt stock, which stood at N41.60tn as of March 2022, according to the Debt Management Office. <br />The CBN however says that the Federal Government’s borrowing from it through the Ways and Means Advances could have adverse effects on the bank’s monetary policy to the detriment of domestic prices and exchange rates.