The Senate of the National Assembly has given an ultimatum of three days for the provision of documents containing details of the N23.7 trillion debt restructuring request made by President Muhammadu Buhari.
Investors King recalls that President Buhari made the request in year 2022, seeking the approval of the legislative arm in order to avoid an additional payment of N1.8 trillion as interest in 2023.
The legislative house expressed readiness to approve the President’s request but not without the necessary documents to be submitted by the Minister of Finance, Zainab Ahmed and the Governor of the Central Bank of Nigeria, CBN Godwin Emefiele.
At the plenary session on Tuesday, the Senate President, Ahmad Lawan ordered Ahmed and Emefiele to provide the needed details of the Ways and Means Advances within three days, blaming them for the delay in passage.
Lawan noted that proper scrutiny of the request must be carried out before approval, hence its order to the concerned officials of the executive arm of government.
He appealed to the Minister of Finance and CBN governor to make available the necessary documents of the Ways and Means Advances on time considering the proximity of the general elections.
His words, “We must have the necessary information for passage of the N22.7tn request and time is not on our side in the Senate now in view of the coming general elections.
“If there is a need for the Senate to sit up to Friday this week for thorough consideration and passage of the request, it will be done but the affected officials from the executive must also expedite action on the provision of the required information as regards documents authorising approval and disbursement of the monies totaling N22.7 trillion,” the Senate President said.