BREAKING: Federal government releases details of Paris Club refunds to states (full details)
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- Details of money paid to states and local governments in respect of the second tranche of Paris Club refunds have been released by the FG
- Akwa Ibom, Bayelsa, Delta, Kano and Rivers received the largest sum of N10 billion each in the details released
- The FG released a total N243.8 billion to the 36 states and Abuja in the second tranche The federal government has on July 18 released details of payments to the Nigeria's 36 states as refund of “over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of states and local governments (1995-2002).”
The released payment is the second tranche of the refunds to the states. The FG released a total N243.8 billion to the 36 states and Abuja in the second tranche. According to Kemi Adeosun, the minister of Finance, acting president Yemi Osinbajo gave the approval for the release of the fund on May 4. Akwa Ibom, Bayelsa, Delta, Kano and Rivers received the largest sum of N10 billion each in the details released.
“The releases were conditional upon a minimum of 75 per cent being applied to the payment of workers’ salaries and pensions for States that owe salaries and pension,” Salisu Dambatta, a finance ministry spokesperson said in the statement.
. In the released figures, payments totaling a staggering sum of N516.38 billion, were made to the 36 states and the Federal Capital Territory. According to a statement by Salisu Danbatta, director of information in the Ministry of Finance, the payments were accordingly made upon the approval of President Muhammadu Buhari on November 21 2016.
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- Unknown: Wednesday, 19 July 2017 at July 19, 2017
- Label(s): news
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