Buhari who expressed his eagerness to hand over power on May 29, claiming that he can no longer cope, has been busy seeking all manner of financial approvals, including judgement debts, from the National Assembly.
By Emma Ogbuehi
President Muhammadu Buhari on Wednesday 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 being judgement debts owed by the Federal Government through the issuance of promissory notes.
Buhari’s letter of request was read at plenary by Senate President Ahmad Lawan.
The letter reads in part: “The Distinguished Senate President may wish to be informed that the Federal Executive Council (FEC) at its meeting of March 29, 2023 approved the liquidations of top priority judgement debts and general judgement debts owed by Ministries, Departments and Agencies (MDAs) through the issuance of promissory notes.
“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. Thus debt securities have been issued for the settlement of the judgement debts and approval of the National Assembly is required for this purpose.
“In view of the foregoing, I wish to request the Senate to kindly consider and approve through its resolution the settlement of the top priority judgement debts and general judgement debts incurred by Federal MDAs in the sum of USD566,754,584.31, £98,526,012.00 and N226,281,801,881.64 through the issuance of promissory notes.
“The Honourable Attorney-General of the Federation and Minister of Justice and the Honourable Minister of Finance, Budget and National Planning shall provide any information that may be required by the Senate for the consideration of this request.”
Buhari who expressed his eagerness to hand over power on May 29, claiming that he can no longer cope, has been busy seeking all manner of financial approvals from the National Assembly.
Buhari spoke at the close of the Regimental Dinner organised in his honour by the Armed Forces at the newly commissioned Nigerian Armed Forces Officers’ Mess, Asokoro, Abuja.
He was joined by Secretary to the Government of the Federation, Boss Mustapha; the Minister of Defense, Major General Salihi Magashi; the Chief of Defense Staff, General Lucky Irabor, and the Service Chiefs.
READ ALSO: BREAKING: Buhari seeks Senate’s approval for N16b refund to Borno
Buhari, who arrived the event late, apologised, pointing out that he had been under immense pressure catching up with the array of events lined up for the inauguration.
“Please, I will like to digress a bit from the prepared speech. I apologise most sincerely for keeping you waiting for about at least half an hour, actually I can hardly cope with the pressure and I am desperately looking forward for the next six days,” he told the gathering.