President orders investigation into the diversion of $1b railway loan

chika ebuzor 04:37 - 11 August 2015

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He also decried the inability of the government to make their own contributions in counterpart funding arrangements, to facilitate the completion of projects.

According to State House, Abuja sources, President Buhari was visibly upset when he learnt that funds meant for a railway project were diverted for other purposes.

This was revealed to him by the Permanent Secretary of the Federal Ministry of Transport, Mohammed Bashar, while giving a report on the activities of the ministry to the President.

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Bashar specifically told the President that over $1b obtained from Chinese Exim-Bank for the construction of rail-line linking Lagos to Kano was diverted to other purposes.

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In his response, the President said “I hope that due process was followed before such diversions were carried out. Taking money from one project to another has to be done properly.”

Adding that it was the cause of abandonment and un-completion of many projects.