NNPCL had on
Former Vice President,
NNPCL had on 16 August last year said it would secure a
Atiku, in a statement he personally signed on Thursday in
He said the only information available to the public on the transaction is coming through unofficial sources from the NNPCL.
"In what appears to be a landmark economic decision of the Bola Tinubu-led administration, the federal government last year, precisely on
"The curious thing about this transaction is that up till now, the federal government continues to keep mum about it, and the only information available to the public on the mega-deal is coming only through unofficial sources from the NNPC," he said.
Atiku, who was the candidate of the opposition
"What is even more confounding about this deal is why the Federal Government would register a company in the
He noted that "it is inconceivable that the federal government will lead the country to take a loan of
Atiku said there are questions to be answered on the integrity of the deal and asked the government to provide them.
He said, "We, therefore, demand, on behalf of the ordinary people of
1. Has the Federal Government accessed the loan?
2. Is the loan in the government's borrowing plan as approved by the
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. And, lastly, why register an SPV in the
Read the full statement by Atiku
Tinubu's administration owes Nigerians an explanation for the NNPC
In what appears to be a landmark economic decision of the Bola Tinubu-led administration, the Federal Government last year, precisely on
The curious thing about this transaction is that up till now, the Federal Government continues to keep mum about it, and the only information available to the public on the mega deal is coming only through unofficial sources from the NNPC.
The deal is supposed to be a crude-for-cash loan arranged by the
According to information available, a Special Purpose Vehicle called
The SPV is the borrower while the NNPC is the sponsor, with an agreement to pay with crude oil to the SPV in order to liquidate the loan at an interest rate that is a little over 12 per cent.
What is even more confounding about this deal is why the Federal Government would register a company in the
Curiously also,
Now, this is where the details get disturbing because
It is on this note that we are calling on the Federal Government to speak up on this shady deal.
It is inconceivable that the Federal Government will lead the country to take a loan of
That is a humongous differential of about
There are questions to be answered on the integrity of this deal, and we earnestly request the Federal Government to talk directly on these cloudy details behind the deal.
We therefore demand, on behalf of the ordinary people of
1. Has the Federal Government accessed the loan?
2. Is the loan in the government's borrowing plan as approved by the
3. Who are the parties to the loan, and what specific roles are they expected to play?
4. What are the conditions to the loan, including tenor, repayment terms, the collateral, and the interest rate?
5. And, lastly, why register an SPV in the
Signed:
Vice President of
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