The House of Representatives has step down the loan request by the immediate-past President Muhammadu Buhari for the Federal Government to pay some judgment debts of about 543.6 billion naira.
Chairman of the House Committee on Aids, Loans and Debt Management Ahmed Dayyabu, presented the report on the presidential request on Wednesday, but the lawmakers resolved that work had not been concluded on it and stepped down its consideration till the 10th House.
Buhari had last month, at the twilight of his administration, written to the National Assembly to seek approval for payment of judgment debts owed by the government to the tune of 566.8 billion dollars, 98.5 million pounds and 226.2 billion naira.
According to the President, in a letter addressed to the President of the Senate, Ahmad Lawan; and Speaker of the House of Representatives, Femi Gbajabiamila, the government will make the payment through the issuance of promissory notes.
Meanwhile, the House considered and adopted the report by the ‘Ad-hoc committee to investigate the alleged loss of over $2.4 billion dollars in revenue from the illegal sale of 48 million barrels of crude oil in 2015 including crude oil exports from 2014 to date.