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Categories: News

JUST IN: Chinese Bank Rejects FG $22bn Loan Request

China-Exim Bank has rejected a loan request by the federal government.

As a result, the House of Representatives, on Tuesday, approved the request by the Federal Government to borrow $973,474,971.38 from China Development Bank.

This followed the decision by the China-Exim Bank to reject Nigeria’s $22,798,446,773 loan request earlier approved by the National Assembly.

The Chairman of the House Committee on Rules and Business, Abubakar Fulata, moved a motion for the legislative chamber to amend its resolution granting approval for the failed loan deal.

The motion was titled ‘Rescission of the 2016–2018 Federal Government External Borrowing (Rolling) Plan.’

Perm Sec Laments Possibility of Nigerians to Start Importing Yam from China

BREAKING: Chinese Sentenced to Death for Fatal Stabbing of Nigerian Girlfriend

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