By Yemi Yusuf
President Muhammadu Buhari has asked the Senate to approve $556m, £98m, and N226 billion for the payment of debts incurred by the Federal Government from lost court cases.
The judgment debts were awarded against the Federal Government in different currencies by various courts across the world.
The President’s request was contained in a letter read by the President of the Senate, Dr. Ahmad Lawan, at the Senate plenary on Wednesday.
In the letter, President Buhari noted that the debts were awarded in litigations against federal ministries, departments and agencies of the federal government through the issuance of promissory notes.
He observed that the Federal Executive Council (FEC) had approved the settlement of these judgement debts in its sitting of March 29 2023.
“The distinguished Senate President may wish to be informed that the Federal Executive Council FEC in its meeting on March 29, 2023 approved the settlement of top priority judgement debts secured by federal ministries, departments and agencies MDAs through the issuance of promissory notes,” the letter reads.
“The judgement debts have been settled through the issuance of promissory notes which will then be reviewed over time for convenience of the federal government of Nigeria.
“In view of the forgoing, I request the Senate to kindly consider and approve through its resolution, the settlement of the total judgement debts and general judgements incurred by the following MDS In the sum of USD five hundred and sixty six million, seven hundred and twelve thousand , five hundred and eighty four dollars , thirty one cent.
“British Pounds, Ninety eight million , five hundred and twenty six thousand, fourteen cents and Two hundred and twenty six billion, two hundred and eighty one million, eight hundred and one thousand, eight hundred and one naira sixty four kobo through the issuance of promissory notes.”
The president urged the Senate to request for additional information on these debts from the Attorney General of the Federation and the Ministry of Budget and National Planning.
“The Attorney General of the Federation and Minister of Justice and the other team of finance, budget and national planning may provide any information that will be required for the consideration of this request,” concludes the letter.
