Semper247:


I just dey look u since as u dey yarn rubbish.

Am sure ur folks are not among those civil servants on whose behalf the bailout was granted yet denied salaries.

Senseless people like u will be in another state talking trash because of ur stupid hatred for the president.

So when did accountability become alien to u people? Are u guys cursed beyond repair? Is ekiti state the only state being investigated? Why the jittery if he has nothing to hide.

The stupid commissioner of justice said the power of oversight is with the state assembly..... The same assembly that has been pocketed by the governor .people are suffering and foolish people like u are ardent supporters of evil...


Thunder and lightning that will deal with u are on dry fasting.....

Your love for Buhari has led to Tinubu running a parallel platform in South West, Afonjas.

The said bailout funds was actually meant for the payment of salaries,pls investigate

Kachimsicho:
Was there an agreement on what to actually use the fund for? And was it agreed that FG will verify the expenses(accounts) thereafter.
As far as rule of law is concerned, they have no right to oversee any state expenses. Mind you, the bailout fund will still be deducted from their allocation just like a loan, so don't think FG is giving them for free.

It is actually left for the concerned states to decide what they want, so if Ekiti insists they want to follow the rule, the FG should let them be.

kernel504:
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

... My brother, this is a clear misplace-ment of priority. NASS that's suppose to check mate the presidents excess. ppl are suffering in Nigeria due to lack of good economic plans hence they are busy going after states instead of FG!! Ahhhh, wrong ppl in the helm of power.

defash8:
This is what we are talking about, putting cart before the horse. Buhari opened our vaults to these govs without terms & condition. He acted solely without NASS but here we are getting to know most govs diverted the bailout. You cannot change the rule of the game when it is on. We need to move on, Fayose response is on point & FGN should always do the right thing including the senate. Disbursing bailout without Senate approval is an impeachable offence committed by Buhari. The Senate need to query why such fund was released without terms & conditions, no control. It is pathetic.

Guy Abeg shut up there. Peope like you that suddenly develop flawed political accumen should be lynched once in a while to correct your brain.

Let me give you the full story

-States had salaries/pensions and contractors in arrear when buhari came in
-some from previous governors, some due to reduced monthly allocation
-Buahri requested for a CBN loan for the States
-NASS appropriated the money as part of the supplementary budget buhari brought late 2015
-State governors with permission from their respective HOA accepted the terms and conditions to the loan e.g pay salaries,pensions and contractors
Many states have been under constant audit from ministry of finance other have not

Kachimsicho:
Was there an agreement on what to actually use the fund for? And was it agreed that FG will verify the expenses(accounts) thereafter.
As far as rule of law is concerned, they have no right to oversee any state expenses. Mind you, the bailout fund will still be deducted from their allocation just like a loan, so don't think FG is giving them for free.

It is actually left for the concerned states to decide what they want, so if Ekiti insists they want to follow the rule, the FG should let them be.

This should answer your question

The loan will be given over one year and will be extended to the states after they have met 22 conditions. Read the conditions below:
1. Publish audited annual financial statements within nine months of financial year end.
2. Comply with the International Public Sector Accounting Standards (IPSAS)
3. Publish state budget online annually
4. Publish budget implementation performance report online quarterly
5. Develop standard IPSAS compliant software to be offered to states for use by state and local governments
6. Set realistic and achievable targets to improve independently generated revenue (from all revenue generating activities of the state in addition to tax collections) and ratio of capital to recurrent expenditure
7. Implement targets
8. Implement a centralised Treasury Single Account (TSA) in each state
9. Have quarterly financial reconciliation meetings with federal government to cover VAT, PAYE remittances, refunds on government projects, Paris Club and other accounts
10. Share the database of companies within each state with the Federal Inland Revenue service (FIRS). The objective is to improve VAT and PAYE collection
11. Introduce a system to allow for the immediate issue of VAT/WHT certificates on payment of invoices. Review all revenue related laws and update obsolete rates/tariffs
12. Set limits on personnel expenditure as a share of total budgeted expenditure
13. Biometric capture of all states’ civil servants will be carried out to eliminate payroll fraud
14. Establish efficiency unit
15. Federal government online price guide to be made available for use by states
16. Introduce a system of continuous audit (internal audit)
17. Create a fixed asset and liability register
18. Consider privatisation or concession of suitable State-owned enterprises to improve efficiency and management
19. Establish a capital development fund to ring- fence capital receipts and adopt accounting policies to ensure that capital receipts are strictly applied to capital projects
20. Domesticate Fiscal Responsibility Act (FRA)
21. Attainment and maintenance of a credit rating by each state of the federation
22. Federal government to encourage states to access funds from the capital markets for bankable projects through issuance of fast- track Municipal bond guidelines to support smaller issuances and shorter tenures
23. Comply with the FRA and reporting obligations, including: No commercial bank loans to be undertaken by States;
Routine submission of updated debt profile report to the DMO.


Read more: https://www.naij.com/860586-fg-promise-give-states-n90bn-loan-gives-23-conditions-list.html



In Nigeria, State administrators such as Fayose, have no regard for ACCOUNTABILITY.

kinibigdeal:
Hello Mr. Slow poke, dont be too dodgy when you type nonsense

Dodgy .. You be imbe

kernel504:



Your love for Buhari has led to Tinubu running a parallel platform in South West, Afonjas.

What has that got to do with buhari , think accountability. We are talking money that belongs to Nigerians here. Your commonwealth splurged by a governor on his family and croonies

Jeez Nigerians would never cease to amaze me

melodyogonna:
do you mind giving us hint of what awaits him?

Top secret bro, no need 2 let d cat out 4 now

ghocol9:
If you know your rights nobody will kick you around

Exactly!

hotice01:
Senate should have written to the state assembly.
I'm not in support of corruption but due process should be respected.
It's the duty of the state house of assembly to monitor and probe the spendings of the state government and then maybe forward findings to the national assembly I.e Senate.
Same way it's only the national assembly that can probe the federal government spendings.
#JustMyOpinionThough

That is the true state of things. One wonders if those vested with certain responsibilities don't give due diligence to finding out what ought to obtain or its just a case of impunity! Many cases are lost in courts due to lack of such diligence from prosecutors.

I believe this bailout fund was given to states due to workers salaries owned for many months by some state. And we are talking of workers welfare here. Why should any gorvernor divert the mony? What best can he do with the mony than to pay workers their salaries? People are sufering evry day working for govment, at the end of the day they will not see their salary Iam in suport of the senate.

kernel504:
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

some people no dey think b4 them make comment... imagine this one shaaaa!!!

kernel504:
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

trash

Is there anything like State Assembly in Ekiti State? What I see is a cult and that is what it is

hotice01:
Senate should have written to the state assembly.
I'm not in support of corruption but due process should be respected.
It's the duty of the state house of assembly to monitor and probe the spendings of the state government and then maybe forward findings to the national assembly I.e Senate.
Same way it's only the national assembly that can probe the federal government spendings.
#JustMyOpinionThough

shortgun:
The Governor is correct.
Federal Govt. Can't probe state Govt.
The state is a federating unit, with every apparatus of Govt in place....check and balances should happen at the state level.

The Governor is the "President" of a state. It will be counterproductive if agencies of the Federal govt begin to bully and order Governors around.

Bros ..... Bros .. Bros .. go and Read what Concurrent, Residual and exclusive power are all about?

cyberguy72:
The Useless Senators Should also Probe Aregbe Rascal,Oshio-worwor and all other thieving APC Governors Nonesense

The same letter was sent by the Senate Committee to Governor Aregbesola of Osun state, Governor Yahaya Bello/Kogi state, and in fact, ALL the state governments who got bailout funds. It was reported in the media yesterday.

However, I agree that this current Senate appear to be encroaching into so many Executive duties. The same Senate wants to control this, control that, summon this, summon that, but they claim "legislative immunity/legislative independence" when called to question! The Senate cannot dabble into the affairs of state governments (under separation of powers) UNLESS it (probe by the Senate) was a condition for giving the bail-out loans to states.

Not all posts should have partisan/political connotations. We should seek to take our country back from politicians, not supporting them every time for tribal or religious reasons!

kernel504:
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

OMG you guys will not kill me ooooo, What has Buhari got to do with Senate? The last time i check NASS is an institution on her own so what's PMB problem with you guys?

kernel504:


Is federal allocation state fund?... The center government has no jurisdiction oversighting the spending of state, state assembly does.

Isn't it funny how we twist and turn the true to accuse our foes and defend our friends but for this nation, its really pathetic how we are torn btw what is right and what is wrong.

Federal allocation to state are provided for and enshrined in constitution but NOT bailout, and have ask for the conditionalities for the bail out?
And if all of us crucify the Fed govt for the recession and state of economy, pls what exonerate a state from borrowing if the state has done well?

Federal money means federal control. Of you want you independence do it on your on kubo. The bailout fund most like had conditions attached to it.

tjesulomo:


Isn't it funny how we twist and turn the true to accuse our foes and defend our friends but for this nation, its really pathetic how we are torn btw what is right and what is wrong.

Federal allocation to state are provided for and enshrined in constitution but NOT bailout, and have ask for the conditionalities for the bail out?
And if all of us crucify the Fed govt for the recession and state of economy, pls what exonerate a state from borrowing if the state has done well?

There is nothing that is done without laws. The starting point should be what is the legal basis for the so called "bailout" and these "conditionalities" as you call them.Is this documented anywhere and even if they are are they lawful and constitutional.

The next point is even if there should be a mechanism of monitoring the use of these funds should it be the senate.

There have been many examples of funds coming into the country specifically World Bank and UN monies that were ring fenced for specific projects and there were no problems. Monitoring such conditionalities is a TECHNICAL and not a POLITICAL job. One for accountants and such like not one for senators. Have you considered what it will cost for these senators to visit all these states as they propose and what they will ultimately achieve.
The truth is that states must guard the little sovereignty they have jealously especially at this time when we are seeking even more decentralization. There should be no compromise on allowing senators to delve into matters that are the preserve of the State Assemble.
Finally the money is CBN money, there is often an ignorant swell of opinion that CBN funds are FGN funds ,they are not. This is quite difficult to understand for many. Nigeria is the largest or one of the largest shareholders in ADB are we to send our senators to countries that borrow from ADB to see how they manage the money they might have borrowed?


The bailout is CBN money and if there are any conditionalities as you claim then publish them. The only thing I do know is the FG GUARANTEED the loan just like they do for ALL foreign loan for states. This does not then give the senate the power to probe how states (Lagos a good example) spent the foreign loans. As Nigerians we want to see goo governance but that should not mean because of expediency we forget the rule of law. If there are any conditionalities the CBN should have put in place appropriate mechanisms just as the likes of the World Bank and IMF have ,I do not think that such should have any room for senators but rather trained technocrats who do their job quietly and professionally

shortgun:
The Governor is correct.
Federal Govt. Can't probe state Govt.
The state is a federating unit, with every apparatus of Govt in place....check and balances should happen at the state level.

The Governor is the "President" of a state. It will be counterproductive if agencies of the Federal govt begin to bully and order Governors around.

my guy we the governor is alpha and omenga of his state and can not be dictated to. but, do you know what is a grant, loan or bailout as the Case may be,? before you applied and given there are terms and conditions attached. the bailout is specifically for governors to upset the salary, pensions and other emoluments of thier workers. so governors signed to used the money for that purpose anything outside that is a breach of your terms and conditions. now that he has made himself in accessible, if there is need for another bailout he applied and the federal govt grant others who made their books open and denied him of such facility, people we flood nairaland with all sorts of negative comments, forgetting his antecedent.let us be wise but not foolishly wise.

So is now they want to probe States on dis matter? Senate should go and solve other bigger problems on their desk and stop chasing rats up and down.

kernel504:
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

do u even think b4 u type or it comes naturally. ...FG gave state cash and it is up to FG to monitor how the cash is spent. ...it is not from the state allocation. ....if he bail out only APC state, una go talk....he extended it to pdp and it is only right to monitor the use just as World bank does with its fund....stop bn wise by half

kernel504:


Is federal allocation state fund?... The center government has no jurisdiction oversighting the spending of state, state assembly does.

so what do you call bail out fund from the FG.....state allocation?

cyberguy72:
The Useless Senators Should also Probe Aregbe Rascal,Oshio-worwor and all other thieving APC Governors Nonesense

did u read d part they said letters were written to all states given bail out fund or u just assumed ekiti was d focus....can't u just be reasonable and call a spade 4 what it is....what was d funds used for....gbam...no issues if it wasn’t stolen

kolaaderin:

cyberguy72: :
The Useless Senators Should also Probe Aregbe Rascal,Oshio-worwor and all other thieving APC Governors Nonesense

Can't u read, its stated that all states benefited from bail out would be probed. The objective of the bail out is to pay salary and nothing else, and the FG reserve the right to probe how it was used and its even parts of term and conditions as signed by the various governors involved.

How can you ask if he can read? That is a forgone conclusion

BlackMbakara1:

kernel504: :
What a nation! How can the national assembly oversight over the spending of a state, when there is a state assembly?

Buhari, will grind the economy of Nigeria to a halt with all these impunity.

Is Buhari now in charge of the legislative arm of government?

Bros,

The tin weak me o! I thought idiot are many on NL, I never knew I was right

mapet:


Bros,

The tin weak me o! I thought idiot are many on NL, I never knew I was right

Bro all i could deduce is lack of objectivity and a discerning spirit...thank God for NL, he will improve.

mapet:


How can you ask if he can read? That is a forgone conclusion

What is this one saying?

Also probe N6trillion 2016 budget. Where are the projects for 2016 budget? Dogara we watching you.

I'm yet to read where it was stated that FG will verify or monitor the expenditure of such fund.
And why are they in a rush when the guideline stated financial year end. Pls read the first line again. Are the states already asking for renewal before the financial year end? I'm yet to read or hear such request.

donodion:


This should answer your question

The loan will be given over one year and will be extended to the states after they have met 22 conditions. Read the conditions below:
1. Publish audited annual financial statements within nine months of financial year end.
2. Comply with the International Public Sector Accounting Standards (IPSAS)
3. Publish state budget online annually
4. Publish budget implementation performance report online quarterly
5. Develop standard IPSAS compliant software to be offered to states for use by state and local governments
6. Set realistic and achievable targets to improve independently generated revenue (from all revenue generating activities of the state in addition to tax collections) and ratio of capital to recurrent expenditure
7. Implement targets
8. Implement a centralised Treasury Single Account (TSA) in each state
9. Have quarterly financial reconciliation meetings with federal government to cover VAT, PAYE remittances, refunds on government projects, Paris Club and other accounts
10. Share the database of companies within each state with the Federal Inland Revenue service (FIRS). The objective is to improve VAT and PAYE collection
11. Introduce a system to allow for the immediate issue of VAT/WHT certificates on payment of invoices. Review all revenue related laws and update obsolete rates/tariffs
12. Set limits on personnel expenditure as a share of total budgeted expenditure
13. Biometric capture of all states’ civil servants will be carried out to eliminate payroll fraud
14. Establish efficiency unit
15. Federal government online price guide to be made available for use by states
16. Introduce a system of continuous audit (internal audit)
17. Create a fixed asset and liability register
18. Consider privatisation or concession of suitable State-owned enterprises to improve efficiency and management
19. Establish a capital development fund to ring- fence capital receipts and adopt accounting policies to ensure that capital receipts are strictly applied to capital projects
20. Domesticate Fiscal Responsibility Act (FRA)
21. Attainment and maintenance of a credit rating by each state of the federation
22. Federal government to encourage states to access funds from the capital markets for bankable projects through issuance of fast- track Municipal bond guidelines to support smaller issuances and shorter tenures
23. Comply with the FRA and reporting obligations, including: No commercial bank loans to be undertaken by States;
Routine submission of updated debt profile report to the DMO.


Read more: https://www.naij.com/860586-fg-promise-give-states-n90bn-loan-gives-23-conditions-list.html



In Nigeria, State administrators such as Fayose, have no regard for ACCOUNTABILITY.

Ziggyblaze:
Mr man whether loan or not, d bail out funds is meant to pay salaries owed not chop i chop. wen will nigerians wake up and stop supporting pple deceiving u

You already condemned the man without knowing what the money was used for.
FG should wait until they're ready to publish their annual reports. We're still in November. Problem with this country is misplaced priority.

Nothing again has been said about budget padding, may be you all have forgotten.