DMO: Clearing Debt Judgement Excite Beneficiaries


There is a strong indication that the domestic debts profile of the Nigeria government will be drastically reduced soon, with the proposed settlement of some judgement debts owed litigants. In a document dated 28/2/2020 and signed by the former chief of staff to the president titled, “Liquidation of Judgement Debts on behalf of the Federal MDGs, States and Local Government,” there are hopes that the debts will soon be paid

According to our reporters,  yesterday, how lawyers and other interested parties were excited over the plans by the federal government to clear the judgement debts through other options of debt settlement, like issuance of bonds or promissory notes to enable the beneficiaries convert same to cash at discounted rates.

The memo obtained by LEADERSHIP stated that a request was forwarded to the office of the Finance minister, asking her to liaise with the accountant general of the federation and the attorney general of the federation and minister of justice, to work out a modality for the payment of some of the debts. “Accordingly, you are kindly requested to engage the Federal Ministry of Justice to discuss and agree on a  specific and appropriate funding proposal to inform the president’s directives on the relevant issue,” the memo read in part.