Federal Government Gets Senate’s Approval For N22.7 Trillion Spent Fund

The Senate has approved the sum of N22.7 trillion that was spent by the executive arm of government without the initial approval of the national assembly.

The upper legislative chamber approved the request, after Ibrahim Gobir, senate leader, presented a report.

Gobir said some of the beneficiaries of the funds are the office of the accountant-general of the federation, ministry of foreign affairs (ECOWAS national unit), Nigeria Bulk Electricity Trading, Azura Power West Africa, Niger Delta Power Holding Company, and Accugas Limited.

The N22.7 trillion is money borrowed by federal government from the Central Bank of Nigeria (CBN) through the “ways and means advances”.