Senate Endorses Jonathan’s $300M Diaspora Bond Request

The Senate has approved a request by President Goodluck Jonathan to increase the amount to be raised through the diaspora bond from the international capital market from $100 million to $300 million.

The Senate Joint Committee on Local and Foreign Debts and Finance had in its report recommended that the Senate approve the request as it would improve the investment opportunities of Nigerians in the diaspora.

The Chairman of the committee, Senator Ehigie Uzamere, said that the proposed increase would accommodate a greater number of Nigerians in the diaspora who are interested in investing in the development of the country."