The Federal House of Representatives has given a nod to President Muhammadu Buhari’s request for the increment of the Diaspora bond from $100 million Euro bond to $300 million Euro bond as part of Federal Government’s borrowing plan.
The approval was given on Tuesday, by the honourable members of the green chamber after considering the report of the Ibrahim Babangida-led ad hoc Committee mandated to work on the presidential request at the Committee of the Whole chaired by the Deputy Speaker, Hon. Lasun Yussuf.
According to the report, the Diaspora bond which was captured in Federal Government’s external borrowing plan 2016-2018, was aimed at diversifying government sources of funding and taking advantage of Nigeria large Diaspora population.
