President Muhammadu Buhari has asked the Senate to approve the payment of judgment debts awarded by different courts against the federal government.
The president said the judgment debts were awarded in different currencies which he summed up to $556,712,584,01; £98,526,013 and N226,280,801,801,64.
Buhari’s request was contained in a letter read by the Senate President, Ahmad Lawan, at the Senate plenary on Wednesday.
As stated in the letter by the president, the debts were awarded in litigations against some ministries, departments and agencies of the federal government through the issuance of promissory notes.
Buhari further stated that the Federal Executive Council (FEC) had approved the settlement of the judgment debts during its sitting on 29 March.
Part of the letter reads: “Request for the settlement of Nigeria judgment debts secured by the federal ministries, department and agencies through the issuance of promissory notes.
“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 judgment debts secured by federal ministries, departments and agencies MDAs through the issuance of promissory notes.
“The judgment debts have been settled through the issuance of promissory notes which will then be reviewed over time for convenience for the federal government of Nigeria.”
“In view of the foregoing, I request the Senate to kindly consider and approve through its resolution, the settlement of the total judgment debts and general judgments incurred by the following MDA 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,” it added.
“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.”
Buhari urged the Senate to request additional information on the judgment debts from the Attorney General of the Federation and the financial team of 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.”