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Nairaland Forum / Nairaland / General / Politics / Kwara And Zamfara, First States To Get FG Bailout Fund (574 Views)
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Kwara And Zamfara, First States To Get FG Bailout Fund by Nobody: 7:16pm On Aug 26, 2015 |
Zamfara and Kwara states are the first beneficiaries of
Central Bank of Nigeria’s N300 billion intervention fund
specially packaged to enable states offset their backlog of
unpaid salaries.
The CBN said the two states were ones that qualified for the
fund so far among the 27 applicants.
The central bank in a statement on Wednesday also
revealed that it has approved the request by deposit money
banks to provide financial accommodation to state
governments to enable them pay the backlog of salaries of
their workers.
“This is sequel to the decision by the National Executive
Council (NEC) at its meeting of 29th June, 2015 requesting
the Central Bank of Nigeria, in collaboration with other
stakeholders to appraise and consider ways of liquidating
the outstanding staff salaries owed by state and local
governments.
“The conditions for accessing the loan facility include
resolutions of the State Executive Council authorizing the
borrowing and State House of Assembly consenting to the
loan package, as well as issuance of Irrevocable Standing
Payment Order (ISPO) to ensure timely repayment.
“Out of the 27 states involved, funds have been disbursed to
two states namely Zamfara and Kwara States that met the
requirements as agreed with their respective banks. Efforts
will be made in the coming days to conclude disbursements
to other States so that all outstanding salaries to Civil
Servants can be cleared,” the statement added. https://www.thecable.ng/kwara-zamfara-first-get-cbn-bailout-fund lalasticlala |
Re: Kwara And Zamfara, First States To Get FG Bailout Fund by peterovanski(m): 7:17pm On Aug 26, 2015 |
Ok |
Re: Kwara And Zamfara, First States To Get FG Bailout Fund by Nobody: 7:20pm On Aug 26, 2015 |
Another round of funds to Siphon... U don't produce ntin. Yet u become the First to receive what others have produced. Mtcheeww....There was not even a country!! |
Re: Kwara And Zamfara, First States To Get FG Bailout Fund by Abduljohn(m): 8:12pm On Aug 26, 2015 |
Hope my thinking is not biased or why's it that Zamfara (NGF chairman state) and Kwara (Senate president state) are the first set of state to get this bailout. When is the turn of my state Osun everybody in the state are seriously waiting for it before pple start to dey collapse |
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