CBN Loans: Nigeria's debt to hit N77 trillion, says DMO

An official noted that securitization of CBN loans will enhance debt transparency

The Director-General of the DMO, Patience Oniha, made this known in a statement on Thursday.

Last week, President Muhammadu Buhari requested a delayed approval for the N23.7 trillion loan that had already been spent, causing an uproar in the Senate. Lawmakers rejected the request and accused the president of violating the constitution. They also demanded details of how the money was spent. She added, however, that should the CBN loans be added to the debt profile, the nation’s debt portfolio would increase significantly.

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