FW
THE FEDERAL GOVERNMENT HAS WARNED STATES AND LOCAL GOVERNMENTS AGAINST BORROWING FROM FINANCIAL INSTITUTIONS WITHOUT A CERTIFICATE OF PROOF OF COMPLIANCE FROM THE FISCAL RESPONSIBILITY COMMISSION (FRC).
FRC’S EXECUTIVE CHAIRMAN, VICTOR MURUAKO, GAVE THE WARNING DURING A FINANCIAL MANAGEMENT WORKSHOP ATTENDED BY THE 23 LOCAL GOVERNMENT CHAIRMEN IN KADUNA.
MURUAKO WHO WAS REPRESENTED BY DIRECTOR OF LEGAL SERVICES, INVESTIGATION AND ENFORCEMENT, CHARLES ABANA, SAID LOANS GOTTEN WITHOUT AN FRC CERTIFICATE ARE NOT ONLY AGAINST THE LAW BUT HAVE SERIOUS LEGAL IMPLICATIONS.
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Rachel Salami
Corp Member
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