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Published on 2024-01-26 06:57:42
The presidency has criticized former Vice President Atiku Abubakar for demanding an explanation of the emergency $3.3 billion loan deal entered into by President Bola Tinubu’s administration through the Nigeria National Petroleum Corporation Limited (NNPCL). Atiku argued that Nigerians deserved a thorough explanation of the deal, but the camp of President Tinubu stated that Atiku was late to the discussion as the deal had already been explained to Nigerians a few days ago.
Atiku further asked five questions about the emergency crude-for-cash loan deal, which was facilitated by the African Export-Import (AFREXIM) Bank. According to Atiku, the AFREXIM facility should strengthen the naira and stabilize Nigeria’s Foreign Exchange (FOREX) market.
In response to Atiku’s request for information on the loan, Dada Olusegun, the special adviser to President Tinubu on social media, stated that Atiku was wrong in his claims. Olusegun claimed that the federal government had already explained the details of the deal to the public.
Attributing Atiku’s late timing to asking questions that had already been addressed, Olusegun stated, “Talking about the Federal Government owing Nigerians an explanation, Alhaji Atiku is late to the party, as usual, as the Presidency had done the needful by explaining the deal to Nigerians a few days ago.”
Despite the backlash, Atiku asked the following questions about the deal:
1. Has the Federal Government accessed the loan?
2. Is the loan in the government’s borrowing plan as approved by the National Assembly?
3. Who are the parties to the loan, and what specific roles are they expected to play?
4. What are the conditions of the loan, including tenor, repayment terms, the collateral, and the interest rate?
5. Why register an SPV in the Bahamas, knowing the recent scandal of the country’s notoriety for warehousing unclean assets?
The former vice president brought these queries after Tinubu’s camp claimed that the federal government had already explained the details of the loan to the public.
Finally, it was reported that Funke Akindele, the director and producer of “The Tribe Called Judah,” received accolades from President Bola Tinubu and former Vice President Atiku Abubakar for the success of her movie.
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