Senate to Probe Paris Club Refund, Questions $5.5 Billion External Loan

Lawmakers in the Senate have expressed worry about why state governments that have benefitted from the Paris Club refund and have continued to owe workers’ salaries.

They have therefore resolved to probe the proceeds of the refund released so far to states by President Muhammadu Buhari.

Last week, the Federal Government released details of the second tranche of Federal Governmentto states, totalling N243. 795 billion.

The Chairman Senate Committee on Local and Foreign loans, Senator Shehu Sani also demanded to know why revenues from local sources cannot be used to fund the 2017 budget.

He raised the question during a meeting with officials of the Ministry of Finance to discuss President Buhari’s request for external borrowing of $5.5 billion

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