Thursday, 19 September 2019 02:34

Govs meet over N614bn bailout deductions, others

 

 
 

The Nigeria Governors Forum (NGF) are meeting in Abuja ahead of the 97th National Economic Council (NEC) meeting.

This is the first time the governors under the chairmanship of Kayode Fayemi of Ekiti State will be meeting after the decision by the Federal Government to recover N614 billion advanced to 35 states as budget support facility.

The Federal Government gave the conditional budget support facility through the Central Bank of Nigeria (CBN) in 2017 to enable the states meet their financial obligations to civil servants and pensioners.

The money was provided at nine per cent interest with a grace period of two years.

 

Ahmed had said the repayment will be taken from the affected states’ allocations during the next Federation Accounts Allocation Committee (FAAC) meeting this month.

She said the refund is not going to be treated as revenue to be used to fund the 2020 budget.

 

 

Sun

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