Tinubu seeks Reps’ approval to issue N269.45bn pomissory notes

President Bola Tinubu has asked the House of Representatives to o.k. the issuance of Promissory Notes worthy N269.45 cardinal to settee outstanding fiscal obligations of the Federal Government.

The petition was conveyed successful a missive signed by the Secretary to the Government of the Federation, SGF, George Akume, and work during Tuesday’s plenary by the Speaker of the House, Tajudeen Abbas.

According to the letter, the projected promissory notes would screen unpaid contractual obligations, project-related liabilities and different verified fiscal commitments owed to assorted creditors by the Federal Government.

Abbas said the projected enlargement of the government’s Promissory Note Programme would supply an organised model for clearing the outstanding liabilities without placing contiguous unit connected authorities currency flow.

The medication explained that the petition followed a reappraisal of outstanding obligations conducted by applicable ministries, departments and agencies, MDAs.

The missive outlined the full verified liabilities arsenic N269,446,402,822.56, representing fiscal commitments arising from authorities contracts, projects and different obligations.

It described the inaugural arsenic the Federal Government of Nigeria Promissory Note Programme for the colony of outstanding and verified liabilit...