Reps clear Buhari to raise N850bn from domestic capital market

The President, Major General Muhammadu Buhari (Retd.) has been given the all-clear by members of the House of Representatives to raise the sum of N850 billion.

The money is set to be raised in naira from the Domestic Capital Market by the Federal Government in the New External Borrowing Plan in the 2020 Appropriations Act.

Buhari got the approval of the lawmakers during Tuesday's plenary session held at the lower chamber of the National Assembly in Abuja.

This followed the consideration of the report on the 2020 External Borrowing Plan of the Federal Government by Garba Alhassan Ado. [Channels TV]

Updates to follow...