Tag: FG Loans

N1.1tr Anchor Borrowers’ loan default: Tinubu orders security agencies to recover cash before Sept 18

Aminu Imam

The Presidency has given marching orders to relevant security agencies in the country to recover loans from the Federal Government Anchor Borrowers N1.1 trillion programme, amounting to over N500 billion. The security agencies, it was gathered, have up till September 18, 2023, to recover all the monies said to be owed by mostly bankers, farmers, individuals, State governments and other financial institutions among others. Apart from recovering the monies, the agencies have also been directed to probe the borrowers.  According to security sources, the recovery of the huge amount has become necessary…

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Ndume faults NASS ‘hasty’ approvals of loans

Aminu Imam

The Chairman, Senate Community on Army, Ali Ndume, has faulted what he described as the hasty manner with which the ninth National Assembly often approves external loan requests made by President Muhammadu Buhari. Ndume, who spoke with reporters in Abuja, also insisted the present external debt burden put at over N35trillion by the Debt Management Office (DMO) was worrisome. He lamented that the hurry to grant loan requests from the executive by the National Assembly has made Nigerians to become suspicious of their elected representatives and also nicknamed them ‘Rubber…

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