Nigeria's House of Representatives passes bill to overhaul the Ministry of Finance for better asset management.

The Nigerian House of Representatives has passed a bill for a second reading to repeal the 1959 Ministry of Finance Incorporated Act and enact a new one. Sponsored by Rep. Ademorin Kuye, the bill aims to improve accountability and management of federal government assets worth over N300 trillion. The new act, with 49 sections, seeks to enhance corporate governance and organizational structure to optimize asset use and attract better investments. If approved, it could lead to increased revenue and economic growth.

November 26, 2024
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