States get another round of Paris Club refund

States get another round of Paris Club refund

It was gathered that the 36 States of the Federation have received another tranche of the Paris Club refund.

The hint was dropped on Monday by Lere Olayinka, the Special Public Communications and New Media to the Ekiti State Governor, Ayo Fayose.

Olayinka, in a WhatsApp message, said: “#Paris Club Refund Ekiti State has received N4.7bn as Paris Club refund to be shared between the State and the Local Government. A total sum of N4,772,836,647.08 was received (See Credit Advice Form). Governor Fayose will meet with Teachers, LG workers, NLC, Civil Servants on how it will be spent soonest.”

Ekiti State got N9.5 billion in the first tranche.

The process to refund the excess paid on the Paris Club and London Club loads by States during the regime of former President Olusegun Obasanjo was initiated by President Muhammadu Buhari to enable states meet their financial obligations.

It was initiated at a period when States could not pay workers and pensioners.

A total of N516 billion was released to the 36 States and the Federal Capital Territory in the first tranche.

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1 Comment

  1. And deltans has neva been a beneficiary of dis Paris club money…we only hear of it but it has neva been used to any civil servant their outstanding salaries……nw anoda is coming… God will a governor wit a heart for d masses in delta…okowa is a beast d worst governor Nigeria has ever produce

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