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Osinbajo Seeks Senate’s Approval for $1.5bn loan

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Osinbajo Seeks Senate’s Approval for $1.5bn loan

Published

9 years ago

on

June 6, 2017

By

BODWEY

Acting President Yemi Osinbajo on Tuesday asked the Senate to approve $1.5bn loan, which is part of the 2016-2018 External Borrowing Plan of the Federal Government.

The loan is meant for projects in 10 states.

Osinbajo request to the upper chamber was made known by Senate President, Bukola Saraki, in a letter he read on the floor of the House on Tuesday.

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She stated that after purchasing the tiles, the defendants made a fraudulent transfer of funds to the company’s account. The prosecution counsel stated that police investigations confirmed that the accused had committed the offense. She said the offence violated Sections 97 and 95 of the Penal Code. The Judge, Chukwuemeka Nweke, admitted the defendants to bail in the sum of N1 million each, with one surety in the same amount. He adjourned the case for a hearing on July 2.

She stated that after purchasing the tiles, the defendants made a fraudulent transfer of funds to the company’s account. The prosecution counsel stated that police investigations confirmed that the accused had committed the offense. She said the offence violated Sections 97 and 95 of the Penal Code. The Judge, Chukwuemeka Nweke, admitted the defendants to bail in the sum of N1 million each, with one surety in the same amount. He adjourned the case for a hearing on July 2.

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