Tinubu seeks Reps’ approval for ₦269.4bn promissory notes to settle FG debts.
The post Tinubu seeks Reps’ approval for ₦269.4bn promissory notes to settle FG debts appeared first on Vanguard News .
By Gift ChapiOdekina President Bola Tinubu has asked the National Assembly to approve the establishment and expansion of the Federal Government’s Promissory Note Programme to settle outstanding verified liabilities totalling ₦269.44bn.
This was contained in a letter by the Secretary to the Government of the Federation, Senator George Akume which was read on the floor of the House during plenary in Abuja.
The request is aimed at addressing outstanding contractual, project-related and other financial obligations owed to various categories of creditors. In a letter dated August 18, 2026, and received by the Office of the Speaker on October 21, Akume said the liabilities amounted to ₦269,446,402,822.56, following a comprehensive review by relevant ministries, departments and agencies. He said Tinubu had approved the proposal to establish and expand the programme as a mechanism for settling the verified obligations. According to the letter, the programme is designed to provide “a structured, transparent and fiscally responsible framework” for settling the outstanding debts, while ensuring that only verified and validated claims are admitted.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.