President Muhammadu Buhari has sought the approval Senate to challenge a promissory be aware for the fee of $566.8 million, £98.5 million and N226.2 billion judgement money owed owed by the federal authorities.
Mr Buhari’s request was contained in a letter addressed to Senate President Ahmad Lawan and browse on the plenary on Wednesday.…..CONTINUE READING
The president, within the letter, stated: “Distinguished Senate President, it’s possible you’ll want to learn that the Federal Government Council (FEC) at its assembly of March 29, 2023, authorized the liquidations of high precedence judgement money owed and common money owed owed by Ministries, Departments and Businesses (MDAs), by means of the issuance of promissory notes.
“The judgement money owed are to be settled by means of the issuance of promissory notes, which is able to then be redeemed over time by means of provisions within the budgets of the federal authorities of Nigeria.
“Thus, debt securities have been issued for the settlement of the judgement money owed and approval of the Nationwide Meeting is required for this goal.
“In view of the foregoing, I want to request the Senate to kindly take into account and approve by means of its decision the settlement of the highest precedence money owed incurred by federal MDAs within the sum of 566,754,584.31 {dollars}, 98,526,012.00 kilos and N226,281,801,881.64 by means of the issuance of promissory notes.”
He added that the finance and justice ministers would offer each mandatory doc required by the Senate.
The Senate, additionally on the plenary, handed for first studying 5 payments.
The payments embody: Federal Medical Centres Act Modification Invoice 2023, sponsored by Gobir Ibrahim (APC- Sokoto) and Federal Instructing Hospital, Makurdi, Benue State Institution Invoice, 2023, by Gobir Ibrahim (APC- Sokoto),
Others are the Central Financial institution of Nigeria (CBN) Act Modification Invoice, 2023, by Gobir Ibrahim (APC- Sokoto) and Federal College of Petroleum Know-how, Ohaji -Egbema Institution Invoice, 2023, by Rochas Okorocha.
(NAN.…..CONTINUE READING