Some opposition lawmakers in the House of Representatives staged a walkout from the Green Chamber on Wednesday over the increase of the controversial Central Bank of Nigeria (CBN) “Ways and Means” lending to the Federal Government.
The protest occurred during the debate on the amendment of Section 38 of the CBN Act to raise the borrowing level from 5 percent to 10 percent.
The opposition lawmakers wanted the threshold to be reduced from the current 5 percent to 2 percent.
Former President Muhammadu Buhari faced criticism for borrowing over N23 trillion from the CBN under the “Ways and Means” policy, which plunged the country into a debt crisis.
During the debate, Minority Leader Kingsley Chinda argued that the threshold should be decreased rather than increased.
However, Ayokunle Isiaka and Ahmed Wase, members of the ruling All Progressives Congress (APC), moved to keep the threshold at 10 percent.
Wase later moved an amendment, which was adopted by the House following a voice vote. Angered by the outcome, some lawmakers staged a walkout in protest.
