Nigeria’s senate has approved a request by President Muhammadu Buhari to restructure 23.7 trillion naira in short-term loans due to the central bank to long term-debt, minutes from a Wednesday meeting showed.
At the time of Buhari’s request to parliament in December, some lawmakers questioned the plan and asked for more information on how the money was used.
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Nigeria President-Elect's Son Owns Corruption-Tainted UK MansionA corruption-tainted London mansion that the President Muhammadu Buhari administration had targeted for confiscation now belongs to Nigeria's president-elect Bola Tinubu's son through an offshore shell company, which is also linked to the politician's surrogates. The property was being investigated by the Nigerian government as part of a corruption probe involving its former owner, Kolawole Aluko, who was accused of evading an oil-trading debt worth over U.S.$1.5 billion. Bloomberg reported that Oluwaseyi Tinubu is listed as the main shareholder of the company that purchased the property. Tinubu uses the property for his stay in London and photos from there became popular online when the politician was hosting political figures there while convalescing in 2021. Buhari whose government had sought had targeted the property for confiscation was one of the guests. The president-elect has faced questions regarding the source of his family's wealth, but he and his campaign have denied any wrongdoing.
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