President Buhari seeks Senate’s approval to pay $556m, £98m, N226b Judgement Debts .
Written by AIGBOKHAEBHO OKHUELEIGBE on May 24, 2023
President Muhammadu Buhari has urged the Senate to approve a request to pay judgement debts in the sum of $566,754,584.31, £98,526,012.00 and N226 billion through the issuance of promissory notes.
The request which was contained in a letter read by the president of the senate, Ahmed Lawan during plenary stated that the Federal Executive Council (FEC) had on March 29, 2023, approved the Liquidations of Top Priority Judgement Debts and General Judgment Debts Incurred by Federal Ministries, Department and Agencies (MDAs), through the issuance of Promissory Notes.
President Buhari said the Judgement Debts are to be settled through the issuance of Promissory Notes which will then be redeemed over time through provisions in the Budgets of the Federal Government of Nigeria.
He assured that the Attorney-General of the Federation and Minister of Justice and the Minister of Finance, Budget and National Planning will provide any information that may be required by the Senate for the consideration of this request