Tag: Foreign loan

$1.5bn World Bank loan: “Nigeria becoming a carcass” – Moghalu kicks

Aminu Imam

A former Deputy Governor of the Central Bank of Nigeria, (CBN), Kingsley Moghalu, has kicked against the Federal Government’s plan to borrow $1.5 billion from the World Bank. Recall that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while speaking with newsmen at the 2023 Annual Meetings of the World Bank and the International Monetary Fund (IMF) in Marrakech, Morocco, confirmed the loan. Edun, who promised that there would be a coordination of monetary and fiscal policies, pledged that President Tinubu’s administration will not breach Ways and…

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Senate passes 2021 N895.8bn Supplementary Appropriation Bill into law

Aminu Imam

…Approves Buhari’s $6.1bn foreign loan request The Nigerian Senate yesterday passed a supplementary budget of N895.842 billion into law. The passage followed a satisfactory report by the Chairman, Senate Committee on Appropriation,  Senator Jibrin Barau, where he explained that the supplementary budget would augment the effort of various government agencies to discharge their responsibilities. Barau pointed out that security agencies will be able to procure arms and equipment as they strive to combat insecurity across the country. After the report, Senate President, Dr. Ahmad Ibrahim Lawan during the Committee of the whole considered…

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