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abujagirl
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Thr Muhammadu Buhari administration has commenced probe into alleged diversion of $1billion foreign loans which obtained for rail projects .
According to PREMIUM TIMES, the President announced the probe while speaking at the end of a presentation on the Ministry of Transport by the Permanent Secretary, Mohammed Bashar at the Presidential Villa. He said ''it was disappointing to find that foreign loans obtained in line with signed agreements were moved from one project to another. I hope that due process was followed before such diversions were carried out. Taking money from one project to another has to be done properly''.
The $1billion loan agreement was signed in September 2012 between Nigeria and China Exim Bank.
According to PREMIUM TIMES, the President announced the probe while speaking at the end of a presentation on the Ministry of Transport by the Permanent Secretary, Mohammed Bashar at the Presidential Villa. He said ''it was disappointing to find that foreign loans obtained in line with signed agreements were moved from one project to another. I hope that due process was followed before such diversions were carried out. Taking money from one project to another has to be done properly''.
The $1billion loan agreement was signed in September 2012 between Nigeria and China Exim Bank.
