Guyman02:
They govs should also publish how security votes were spent; thats the number one corruption tool.

shamecurls:
In my opinion, I think states should be auctions. Dangote can afford to buy-off and manage the South-East and South-South while Tinubu can buy-off the West and IBB and Atiku can do a joint venture and buy the whole of the North. These businessmen can automatically own and manage these regions if an agreement is reached with the Federal government

emmykk:
Buhari want to continue to screw banks,if banks dont give out loan how would they profit to keep bank workers.


And i hope the federal govt would not borrow too.



Oya lagos,kano,imo,edo should lead this new polices.


Also FG should deduct state workers salaries at source from state account and pay directly to state workers account,this way monthly allocation will not gets spent without state workers not getting their salaries.

chriskosherbal:
Are we sure these states governors will agree to this bail out conditions.

CyerSeries:
The thing is that no State can meet these requirements so, its as good as saying no bailout again and owed workers will still go home without salary.. Regionalism or fiscal federalism is the way to go.

MrImole:
Ayodele Fayose is the most transparent governor in Nigeria, at least he won the award. He's also the first if not the only Governor that sent a copy of his state budgets to EFCC.

porka:
This is an exercise in futility.

One of those APC's childish propositions that is entirely un-implementable.

Nigeria is a federation governed by the constitution. The state executives and legislatures are all elected by their constituents with different agenda.

Each federating unit is accountable to the electorate which elected them. Nigeria does not presently run a sole-administratorship neither are we under the military.

This is similar to what Fashola argued when they tried to make his foreign loan applications go through a lesser scrutiny. And that was even a foreign loan to be guaranteed by the sovereign. It was on record that he harassed and blackmailed the federal government of that time.

The process of obtaining a loan by the states is very clear. The DMO already has stringent conditions which are being strictly followed.

Any attempts to further enlarge Abuja's powers will be duly resisted by the states.

How can the federal government dictate prices for states for instance?

There's nothing wrong in using moral suassion to encourage the states to get their acts together, but acting like a school principal in a federation is entirely against the spirit and letters of the Nigeria's constitution.

And then why is the federal government always rushing to 'offer loans' to states when they can simply pay what they are owing them?

Earth2Metahuman:
bank is not for government but for the people.
Its not important to have large number of banks..
If banks cannot operate without government money, they should kindly fold up.

enigma2007:


Bros! Its simple...the govs should not expect handouts from the center, rather they should start looking for means to generate revenue internally.

porka:


Not all of them are expecting handouts.

If the federal government can pay them what it owes them, many of them will be in good position.

There won't be any needs to issue these types of Hammurabi's laws.

porka:


There's what is called the public sector and private sectors in modern banking, ok?

The private sector consists of individuals, businesses and other organizations, ok?

The public sector is the government - agencies, parastatals and ministries, ok?

No government can operate without the bank, ok?

Governments need to collect revenue and banks help collect and keep in safe custody government revenues on daily basis, ok?

Money so kept are used to lend to other customers in need of funds (including government), ok?

The process is a very sophisticated mechanism called financial intermediation, ok? (You may read up some materials online).

Banks provide short-term (and medium-term) funds for their customers, both public (government) and private (individuals and businesses), ok?

Banks also provide long term funding for government projects (through contractors) in other times, ok?

Governments approach banks for facilities to cover some exigencies in the face of the illiquid positions of government accounts, ok?

Hope you understand how things are done in modern societies now. Things have gone way beyond the 13th century Alajo Shomolu banking model you are probably used to.

If you need more clarification, you can use the search engines.

ITSAWRAPWORLD:
The conditions are sensible and acceptable for accountability. Only States with hidden agenda will find the conditions difficult to comply with.

Realdeals:
I believe something must be done to tame the governors, they are like gods in their various state. While all the attention is been given to FG, nothing is been said about the states.

cc: lalasticlala

Earth2Metahuman:
so many Okays

Anyhoo, central bank handles the money or any finances that belongs to government all over the world.
except special banks funded by government for financial or AIDs purposes. Like the Islamic banks in some countries or government owned micro finance banks.
Private banks run on money from public not government all over the world..
That's why banks will start begging you to come and collect loans in well oorganized society with very low interest rate unlike Nigeria where banks don't even give a crap about customers and would rather loan money to politicians than smes.

Its simple, and all these stories is not needed. Central bank suppose to run on government money cost its government bank while private banks suppose to run the private sector and not turn to another CBN.
If a bank cannot survive without government money, it should fold up. Simple.

Realdeals:



http://www.newsheadlines.com.ng/latest-nigerian-news/2016/06/15/23-conditions-states-must-meet-to-access-bailout-fund/

Tokt:
Chai, the thug wike can never meet this condition. Till date, no one in Rivers has seen the budget on which the thug operates on. The budget was passed within two days after submittal from wike by HOA. Rivers budget is wikes skewed brain.

PassingShot:
This is a good way to make the state governors accountable.

Let's see how the Kponmo-cutting thugnor of Ekiti can benefit from FG's bailout without implementing TSA.

Kudos to the PMB-led FG for helping state to be more open and accountable.

989900:
Now we have a ministry of finance.

OnankpaBa:

Boss13:


Please ask yourself what is true federalism? Federalism is the devolution of powers or sharing of powers between the state/regions and the center. Can we be honest enough with ourselves and ask if we can truly give absolute powers to states in this country, given the frequent abuse of powers by state governors and politicians. We have witnessed state governors rigging elections with the military, abuse of state funds.

On the other hand, are we also inferring that our states are not autonomous enough or cannot survive on their own? Yes some of them would not survive because they lack innovation and rely on monthly allocation.

However, we should not continue to deceive ourselves with the concept of true federalism, when politicians are only interested in stealing funds and they are poor in governing. We should be concerned with implementing good governance and public sector scrunity just like these initiatives. We should be more concerned with public sector accountability and disclose of public sector information.

What has these governors done with the funds at the disposal presently? What will resource control achieve for states especially the Niger delta states with high level of impunity, militancy, insecurity and corruption?

If the governors are serious enough and implement these initiatives, they will be credit worthy and have access to a wide range of funds to implement their projects.

How can states be bailed out previously, only for them to return back for more bail out funds? Do they understand what a bail out fund is?

porka:


There's what is called the public sector and private sectors in modern banking, ok?

The private sector consists of individuals, businesses and other organizations, ok?

The public sector is the government - agencies, parastatals and ministries, ok?

No government can operate without the bank, ok?

Governments need to collect revenue and banks help collect and keep in safe custody government revenues on daily basis, ok?

Money so kept are used to lend to other customers in need of funds (including government), ok?

The process is a very sophisticated mechanism called financial intermediation, ok? (You may read up some materials online).

Banks provide short-term (and medium-term) funds for their customers, both public (government) and private (individuals and businesses), ok?

Banks also provide long term funding for government projects (through contractors) in other times, ok?

Governments approach banks for facilities to cover some exigencies in the face of the illiquid positions of government accounts, ok?

Hope you understand how things are done in modern societies now. Things have gone way beyond the 13th century Alajo Shomolu banking model you are probably used to.

If you need more clarification, you can use the search engines.