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FEC approves Euro500m credit for Bank of Industry

• approves justice sector policy, repeal of Geneva Convention

The Federal Government Executive Council presided over by President Muhammad Buhari has approved that 500 million Euro loan be sourced for the Bank of Industry from external creditors.

The  Minister of State Finance, Clement Agba, explained that the loan is to support industrialisation and agriculture, in addition to creating up to 1.2 million new jobs.

“The credit guarantee is for up to five years and the Federal Government is the guarantor of the loan,” he stated.

READ ALSO: http://How ex-gov. Yari disrespect for party rules made APC to lose power in Zamfara – Sen. Yarima

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said council approved a Justice Sector Policy for the country essentially to reform the sector by simplifying access to justice.

He explained that the policy would ensure “speedy determination of justice”, “quality of justice” and “access to justice.” Malami said the council also approved a memo seeking to repeal the Geneva Convention and re-enact it to “accord greater access to justice by prisoners of war.”

He explained that Nigeria was behind the rest the world in terms of according prisoners of war certain rights and privileges.

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