Overdraft to Fed Govt: Senate grills CBN chiefs

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The Nation Newspaper Overdraft to Fed Govt: Senate grills CBN chiefs

yesterday told members of the Senate Ad-hoc Committee all they knew about the N30 trillion overdraft to the Federal Government .

Jibrin told reporters after the Committee met with the apex bank officials at the National Assembly in Abuja, that the loans must be recovered in full. He said: “The committee could not get immediate explanation for that and therefore gave 24 hours to provide the necessary explanation. Jibrin identified the risk as the inability of the low income farmers to perform to expectation in terms of “equipment, technical know how to manage those farms effectively. That is where we are likely to have problems of loan default”.

 

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