The House of Representatives wound down on Wednesday without approving the loan request by the immediate-past President Muhammadu Buhari for the Federal Government to pay some judgment debts totalling approximately N543,594,989,247. The Chairman of the House Committee on Aids, Loans and Debt Management Ahmed Dayyabu, laid the report on the presidential request on Wednesday but the lawmakers resolved that work had not been concluded on it and stepped down its consideration till the 10th House. Buhari had last month, at the twilight of his administration, written to the National Assembly to seek approval for payment of judgment debts owed by the government to the tune of $566,754,584.31, £98,526,012.00 and N226,281,801,881.64. When the dollar is converted to N261,149,177,358.36 and the pound sterling is converted to N56,164,010,008.15, the debt is approximately N543,594,989,247. On the alleged loss of over $2.4bn in revenue from illegal sale of 48 million barrels of crude oil export in 2015, the committee said it found the allegation to be false.

Source: Punch June 09, 2023 12:04 UTC