The Senate on Thursday invited the Minister of Finance, Mrs. Kemi
Adeosun, to appear before it to explain how the $600 million Euro bond
sourced from the Chinese Government was used.
The upper chamber
said $600 million loan received to revive the power sector was allegedly
diverted by the Federal Government to remodel four airports.
It
noted that there was $600 million Euro bond from the Chinese Government
for the rehabilitation of the power sector, out of which $100 million
was allegedly diverted as counterpart funding for the remodeling of
Lagos, Abuja, Kano and Port Harcourt Airports.
The Chairman,
Senate Committee on Public Accounts, Senator Mathew Urhghide, issued the
summon at the meeting of the committee on Thursday.
Urhoghide
(Edo South), said the Minister of Transportation, Rotimi Amaechi and the
Director- General of Debt Management Office (DMO), Mrs. Patience Oniha,
would also appear before the committee on the matter.
Urhoghide,
who spoke when the Permanent Secretary, Ministry of Transportation,
Sabiu Zakari, appeared before his committee, said those invited should
appear before the committee next week to explain the rationale behind
the movement of such loans from its original purpose to another.
He said there was the need to establish the desirability of the loan.
