• Absence of auditor-general may stall FG’s bid to borrow $29.96bn

    Absence of auditor-general may stall FG’s bid to borrow $29.96bn

    According to reports, the Federal Government’s plan to borrow $29.960 billion from external sources may be stalled by some institutional lapses, it was learnt yesterday.

    In an interview with some senators, particularly on the Senate Committee on Appropriation, it was learnt that such a request for loans and grants from external sources requires accompanying documents, which only a substantive auditor- general of the federation could approve.

    The lawmakers said standards set by global financial institutions like the World Bank, the International Monetary […]