Osinbajo Seeks Senate Approval To Borrow $1.5bn

Acting President, Yemi Osinbajo is seeking Senate approval for a loan request of $1.5 billion.

The loan according to the News Agency of Nigeria is part of the 2016-2018 External Borrowing Plan of the federal government, meant for projects in 10 states.

Osinbajo on Monday sought foreign assistance on return of large sums of money siphoned out of the country, through illicit financial flows.

“It is absurd we are asking for foreign aid & so much larger sums of money are making it out of the country through illicit flows.” the Acting President said at a conference on promoting international co-operation held at the State House Abuja yesterday.

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