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Reps approve Buhari’s request to convert N23.7trn CBN loan to 40 years bond

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Mr Buhari had in a letter in 2022 requested that the N22.7 trillion Ways and Means loan should be converted to a 40-year bond with a moratorium of three years.

has approved the request by President Muhammadu Buhari to convert the N23.7 trillion “ways and means” loan to a long-term bond.

The lower chamber gave the approval on Thursday following the consideration of the report presented by the House Committees on Finance, Banking and Currency and Aids, Loans and Debt Management.

 

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