Debt: Reps accepts Loans of $1.5 Billion and €995 Million With No Terms or Conditions

0
71

The House of Representatives has requested that the Executive submit the terms and conditions of the loan that the House accepted.

The green chamber agreed with the senate, which had authorized the government’s plan to borrow $1.5 billion and €995 million to fund main priority programs last week.

Mike Igbokwe SAN Collections Now Available for purchase ~• For enquiries and Details, Call Winifred Tayo-Oyetibo on 08177770462 or +234(01) 4620907, 4620807 Ext. 122 ~•• CLICK VIDEO Below.


Purchase Now
The Trajectory of excellence in Legal practice
The Dynamism of law and practi e in Nigeria
Nigerian Maritme Cabotage policy and law

_____________________________________________

The loan was approved by the Green Chamber after the Committee on Supply reviewed the report of the House Committee on Supports, Loans, and Grants.

In May 2020, the President, Muhamadu Buhari, sent a letter to the House seeking permission to borrow the loans.

However, after accepting the loan, the lawmakers demanded that the executive deliver the terms and agreement of the loans to the House.

“That the terms and conditions of each Lender’s loans, as set out in properly executed Loan Agreements, be forwarded to the National Assembly for proper documentation.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here