The implementation of a three-pronged financial intervention of President Muhammadu Buhari to assuage workers plight and support the states is now in progress, the presidency has said.

Specifically, state governments, according to a statement by Laolu Akande, the Senior Special Assistant to Vice-President Yemi Osinbajo on Media and Publicity, will start benefiting from the special intervention fund of between N250billion to N300billion in a matter of weeks.

The statement according to the News Agency of Nigeria (NAN), added: “Currently, planning meetings are ongoing on between members of the Federation Account Allocation Committee (FAAC) and Central Bank of Nigeria (CBN), on the one hand, and between CBN and commercial banks on the other hand, regarding details of the special intervention fund and the debt relief programme of the president for states.

“The meetings are reviewing loan profiles of the states, issues around restructuring of existing loans including time span, and reconciling the figures.

“Already, it has been agreed that existing state loans be restructured for 20 years, and regarding the bond option, the rates to be applied would be market-based but with a cap to make it affordable.

“Within weeks from now, the states are expected to start benefiting from this two other parts of the presidential intervention, the statement said.

Read full story
http://monitor9ja.com/2015/07/presidency-states-to-have-access-to-n300bn-special-intervention-fund-soon/

Another SOON from the procastinating failures. APC when will you start working on your promises?. May God help Nigeria

Following

teeebugs:
The implementation of a three-pronged financial intervention of President Muhammadu Buhari to assuage workers plight and support the states is now in progress, the presidency has said.

Specifically, state governments, according to a statement by Laolu Akande, the Senior Special Assistant to Vice-President Yemi Osinbajo on Media and Publicity, will start benefiting from the special intervention fund of between N250billion to N300billion in a matter of weeks.

The statement according to the News Agency of Nigeria (NAN), added: “Currently, planning meetings are ongoing on between members of the Federation Account Allocation Committee (FAAC) and Central Bank of Nigeria (CBN), on the one hand, and between CBN and commercial banks on the other hand, regarding details of the special intervention fund and the debt relief programme of the president for states.

“The meetings are reviewing loan profiles of the states, issues around restructuring of existing loans including time span, and reconciling the figures.

“Already, it has been agreed that existing state loans be restructured for 20 years, and regarding the bond option, the rates to be applied would be market-based but with a cap to make it affordable.

“Within weeks from now, the states are expected to start benefiting from this two other parts of the presidential intervention, the statement said.

Read full story
http://monitor9ja.com/2015/07/presidency-states-to-have-access-to-n300bn-special-intervention-fund-soon/

advert. I understand.