The Senate has approved the restructuring of the controversial 22.719 trillion naira ways and means advances, ostensibly to ensure that the government does not shut down.

The upper chamber gave the approval during plenary session after considering a report from its ad hoc committee.

The report noted that the federal government repeatedly borrowed from the central bank of Nigeria in the process exceeding the five percent threshold of the previous year’s revenue as stipulated by the CBN Act.

However, some senators were opposed to approving the overdraft explaining that it contravened the constitution and the CBN Act.