Nigerian govt approves bill to support implementation of 2023 budget

The Federal Executive Council (FEC) on Wednesday approved the Finance Bill 2022 designed to support the implementation of the 2023 budget.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, confirmed the development to State House correspondents after the council’s meeting presided over by Vice President Yemi Osinbajo in Abuja.

She said the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, also presented a memo on group life insurance cover for the period 2022 to 2023.

The minister said: “This is an insurance cover that is covering all government agencies, military, and intelligence agencies.

“The Council approved the total sum of N9.24 billion for the insurance cover for 2022 to 2023.

“As you know, the insurance will take effect from the date of payment.

“And in Nigeria, by our laws, the insurance cover is 30 percent of the annual emoluments of any staff of government that is deceased, and this cover is paid by the insurance company of the deceased staff.’’

READ ALSO: NASS to commence debate on 2023 budget, sets Dec timeline for passage

Ahmed said the first memo presented by her ministry was the draft Whistleblower Bill of 2022.

The memo, according to her, had been reviewed by the council and approved with a provision to ensure alignment with the Evidence Act.

She added: “The purpose of operationalising and putting in place a whistleblower bill is to strengthen the fight against corruption and to also enable protection for whistleblowers that provide information for use by the government.

“As you know since 2016, the council had approved the setting up of the Presidential Initiative of Continuous Audit (PICA).

“PICA has been working in partnership with the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Department of State Services (DSS), Nigerian Financial Intelligence Unit (NFIU) as well as of the office of the Attorney General of the Federation.’’

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