The sum of N22.7 trillion earlier spent by executive arm of government without the approval of national assembly has finally been approved by the Senate.
The senate leader, Ibrahim Gobir on Wednesday presented the report after which the financial request was confirmed by the Red Chamber of the National Assembly.
The federal government had earlier borrowed the funds from the apex financial institution in the country, the Central Bank of Nigeria CBN via the “ways and means advances”.
The Nigeria’s President Muhammadu Buhari in December 2022 sought for the approval of the funds but some lawmakers; mostly from the opposition camps rejected the move.
They asked the Buhari led federal government to present records of what the sum of money was spent on before they could endorse the financial spending.
Details shortly…