Senate Probes $500m Loan Obtain by Gov Yahaya Bello without Approval of Lawmakers

The Nigerian Senate on Wednesday directed its Committee on Local and Foreign Debts to investigate $500 million loan allegedly obtained by the Governor of Kogi State, Yahaya Bello, without the approval of the State House of Assembly and National Assembly as required by law.

Raising the Pont of Order on the floor of the senate chamber on Wednesday November 28, Senator, Dino Melaye representing Kogi West citing Orders 42 and 52, said the Kogi State Government signed a loan of $500million without the approval of the National Assembly or the Kogi State House of Assembly.

Speaking on the loan, Senator Atai Aidoko, representing Kogi East, also said: “This is unacceptable. This state is in so much debt. There is no law that allows a Governor to withdraw $500 million without approval from the Senate.

“The state has not been paying salaries; where is all this money going? Let us do the needful and put these loans to an end.”

Responding, Senate President, Senator Bukola Saraki who presided over the plenary put the question to his colleagues who agreed that the allegstion must investigated.

The Senate directed the Committee on Local and Foreign Debt to do the finding and report back within 48 hours, or a maximum of five days.

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