Senate approves additional $200m loan for Jonathan

The Senate, on Tuesday, approved the request of President Goodluck Jonathan to raise additional $200 million Diaspora Bond from the international capital market.

The request was an addition from the initial $100 million.

President Jonathan had, in a letter dated February 4, 2015, which was addressed to Senate President, David Mark, asked for the approval of the additional sum from the initial $100 million approved by the senators in the 2012-2014 borrowing plan.

The president had explained in the communication that the increment being sought was to enable him to address critical infrastructure in the country, while also giving Nigeria’s diaspora citizens the opportunity to invest in the development of the country.

Senate President, David Mark, who presided over the sitting, said he was confident that the funds would be judiciously utilised by the Jonathan-led administration.

The Senate, also on Tuesday, passed the criminal justice bill into law.

The bill, according to the lawmakers, would ensure speedy dispensation of justice in the country.

Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Umaru Dahiru, said when signed into law, the bill would promote efficient management of criminal justice in the country.

Senate President, Mark, who presided over the sitting, said the bill would help in repositioning the criminal justice in the country.

Meanwhile, the Senate has adjourned its sitting till Tuesday, March 31, to enable the members to participate in the general election.

The development thus shifted the passage of the 2015 budget to April.

 - Tribune