Five days to his exit, President Muhammadu Buhari, again sought the Senate’s approval to pay judgement debts totalling $566,754,584.31, £98,526,012.00, and N226 billion owed by the Federal Government.
Buhari’s letter of request, which was read today, by the Senate President, Ahmad Lawan, at plenary, said the debts were incurred through the issuance of promissory notes for various litigations against federal ministries, departments and agencies (MDAs).
He added that the settlement of the judgment debts had also been approved by the Federal Executive Council (FEC) during its meeting on March 29.
The letter reads: “Request for the settlement of Nigeria judgement debts secured by the federal ministries, department and agencies through the issuance of promissory notes.
“The distinguished Senate President may wish to be informed that the Federal Executive Council (FEC) in its meeting on March 29, 2023, approved the settlement of top priority judgement debts secured by federal ministries, departments and agencies MDAs through the issuance of promissory notes.
“The judgement debts have been settled through the issuance of promissory notes which will then be reviewed over time for convenience for the federal government of Nigeria.
“The Attorney-General of the Federation and Minister of Justice, and the other team of Finance, Budget and National Planning, may provide any information that will be required for the consideration of this request.”
Over the last couple of weeks leading to the end of his tenure, Buhari has indulged in all manner of requests for loans and payments, which have been graciously endorsed by the legislators, a development many economists describe as “executive recklessness”.
The Federal Executive Council (FEC) in its meeting on March 29, 2023, approved the settlement of top priority judgement debts secured by federal ministries, departments and agencies, MDAs, through the issuance of promissory notes.
