The Federal Government borrowed $300m from Nigerians in the Diaspora before it secured the approval of the National Assembly, the Debt Management Office indicated on Wednesday.
In a response signed by the Director-General, DMO, Ms. Patience Oniha, and dated November 29, 2017, the agency explained that the $300m it had borrowed from Nigerians in the Diaspora was part of the $5.5bn approved for borrowing by the National Assembly.
While the approval was given on November 14, 2017, the $300m was raised in June 2017 through the issuance of the Diaspora Bond.
On the conditions for the loans already secured, the DMO said the 10-year $1.5bn Eurobond maturing in 2027 carried an interest rate of 6.5 per cent, while a 30-year $1.5bn Eurobond maturing in 2047 carried an interest rate of 7.625 per cent.
From Punch
This is not funny
ReplyDeleteThis administration's nickname should be "borrower's ". They keep collecting from all even the dead yet nothing seems to be working.
ReplyDeleteSAMANTHA...LOLZ AT BORROWER
ReplyDeleteGod will deliver us! You can see how they are eating up into the future.
ReplyDeleteWhat amuses me is that they are still borrowing after the millions and billions they said have been collected from looters and the economy is still on a stand still. Hmm...
Mr. Fowler even said FIRS generated N4 trillion tax revenue in 2017.
This Government is terrible!!!
This administration will run this country down!! Borrowing upandan to the extent of borrowing from Nigerians in diaspora!! Kai they can even borrow school children's pocket money sef! Odiegwu
ReplyDelete