A Federal High Court, Abuja, on Thursday, dismissed a suit seeking to restrain the Federal Government from securitising the sum of N22.7 trillion Ways and Means Loan support it got from the
Others in the suit marked FHC/ABJ/CS/1286/2023 are Debt Management Office , National Assembly, and Attorney General of the Federation as 5th to 7th defendants, respectively. The plaintiffs, therefore, claimed that the series of loans secured from the CBN amounted to N23.7 trillion and that the FG was planning to restructure the loans to something that could be traded.
“That unless the respondents are compelled by an injunction of this honourable court, it will continue to take steps in variance with the law and continue in its efforts to securitise the Ways and Means loan; which if completed and bought by Nigerians and investors might become irreversible,” they said.
The judge then asked whether there was any public forum where the plaintiffs brought the people together or conducted a poll to gather their opinions and views before commencing the action.
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