Tinubu Seeks Debt Forgiveness For Nigeria, Others

President Bola Tinubu on Tuesday appealed to the United Nations to consider debt forgiveness for Nigeria.

This call by the president was made at the 79th UN General Assembly taking place in New York.

Represented by the vice president Kashim Shettima, the president said it is pertinent that the UN prioritise debt forgiveness for the nation and other developing countries from their creditors and multilateral financial organisations.

He said, “Similarly, we must ensure that any reform of the international financial system includes comprehensive debt relief measures, to enable sustainable financing for development.

The president stated that countries across the global South cannot make significant economic progress “without special concessions and a review of their current debt burden.

He also called for assistance in the recovery of the proceeds of corruption and illicit financial flows.

According to him, maintaining the return of such funds to countries of its origin “is a fundamental principle of the UN Convention against Corruption.”