While Buhari extends vacation, Osinbajo seeks Reps’ approval to borrow $500m
While Buhari extends vacation, Osinbajo seeks Reps’ approval to borrow $500m Professor Yemi Osinbajo, Nigeria's acting president, is seeking approval from the House of Representatives, to borrow $500million out of the $1billion Eurobound from the International Capital Market (ICM). The Vice President said the money would be used to fund the 2016 Budget deficit. While Buhari extends vacation, Osinbajo seeks Reps’ approval to borrow $500m In a letter addressed to the Speaker Yakubu Dogara and read on the floor of the House on Wednesday, Osinbajo said: “The Rt. Honourable speaker may also wish to note that whilst the approved domestic borrowing has been fully incurred, the N635.877 billion external borrowing has not been fully accused. READ ALSO: While Buhari is away, lawmaker moves for Governor Shettima to become President “The external borrowings incurred to date consist of USD 600 million from the African Development Bank and USD 1 billion Eurobond from the Internatio...