“We borrow to pay salaries”- Acting accountant-general ,Anamekwe Nwabuoku says

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Anamekwe Nwabuoku, The acting accountant-general of the federation (AGF), says Nigeria is borrowing money to pay salaries.

According to Nwabuoku statement on Tuesday, June 14, at a retreat organised by the office of the AGF for members of the technical sub-committee on cash management (TSCM) in Abuja, He explained that there is an increase in government expenditure due to rising security challenges and the social needs of the citizenry
He said ;

“We have to borrow to augment payment of salaries and wages. This shows we are in very difficult times. Government income is highly challenged.” Nwabuoku said.

“The theme and objective of the retreat couldn’t have been better captioned, given the fiscal challenges at the moment. Records available indicate that due to dwindling revenues, the treasury had to resort to other sources to augment the payment of federal government public servants.

“There is an increase in government expenditure due to increasing security challenges and social needs of the citizenry.”

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