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Friday, 18 September 2015

5 more states receive FG’s bail out funds

The Central Bank of Nigeria, CBN, yesterday said that five more states got its bail-out funds meant to alleviate the financial challenges faced by the second tier of government, in order to pay off outstanding salary arrears of their workers.

The Director of Corporate Communications of CBN, Alhaji Ibrahim Muazu, said in Abuja that the states that received the funds were Ebonyi, Ekiti, Imo, Ogun and Oyo.

In a statement, CBN said in order for a state to receive bail out funds, it must submit a resolution of the State Executive Council, SEC, authorizing the borrowing. It must also obtain an approval of the states House of Assembly consenting to it and issue an Irrevocable Standing Payment Order, ISPO, to enable CBN deduct at source when its allocations become available.

These 5 states now join 10 states (Kwara, Osun, Zamfara, Niger, Bauchi, Gombe, Abia, Adamawa, Ondo and Kebbi) that had previously received bailouts from the Govt.

45 comments:

  1. So many workers have been waiting patiently for this, thank God o













    #iT wiLL oNly GeT beTTer
    #it MuSt eNd in PrAise

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  2. So many workers have been waiting patiently for this, thank God o













    #iT wiLL oNly GeT beTTer
    #it MuSt eNd in PrAise

    ReplyDelete
  3. At the end of it all, I hope there will be accountability n all workers in d state will be fully paid their arrears.

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  4. At the end of it all, I hope there will be accountability n all d state govt worker will be fully paid their arrears.

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  5. Happy Birthday @ LindaIkeji. More blessing ..

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  6. When I go through the comments section, there are profiles I just skip reflexly..that of royal priest, Linda take note, henry Eze etc especially that royal pEsT. Is it all about Linda giveaway? You'll be in for a shocker at the end of the year. Your comments hurt my eyes, so nowadays, I don't even bother

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  7. Nice one.i thought the useless governo the looter in chief okezia ikpazu says he never receive any thing.
    they should please pay the suffering workers.



























    #sad indeed

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  8. Oh!

    Lagos when wil it b ur turn so dat u can settle and pay up ur contractors...? Dis is really long over due.

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  9. ANAMBRA STATE can never borrow....Thanks to the immediate past governor Peter Obi...

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  10. I hope the money is utilized judiciously.

    Your comment will be visible after approval.

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  11. Issokay seen, thanks for the info. Linda take note!

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  12. Issokay seen, thanks for the info. Linda take note!

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  13. Issokay seen, thanks for the info. Linda take note!

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  14. Obviously the CBN has got nothing better to do with their money or rather the money of the people.
    Y send bail out funds to ebonyi and imo state huh? Money that would otherwise go into the pocket of the governors.
    Imo state shouldn't have been giving a penny bcos they just made that thief called rochas richer. Dude won't do anytng tangible with the money.
    Not like he's gona pay workers or build roads

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  15. a.k.a EDWIN CHINEDU AZUBUKO said...
    .
    Oky seen.....
    .
    .
    ***CURRENTLY IN JUPITER***

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  16. So Aregbesola has received bailout from d FG..... Pls pay my mum's salary,stupid man!!!

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  17. So Aregbesola has received bailout from d FG..... Pls pay my mum's salary,stupid man!!!

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  18. Ekiti for bail out fund ? Thought Fayose said he needed no bailout. He finally kissed the dust . Hain. If all these states got bail out why have pdp and their cohorts been single out Osun state Aregbe for crucifixion.

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  19. Ekiti for bail out fund ? Thought Fayose said he needed no bailout. He finally kissed the dust . Hain. If all these states got bail out why have pdp and their cohorts been single out Osun state Aregbe for crucifixion.

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  20. Ekiti for bail out fund ? Thought Fayose said he needed no bailout. He finally kissed the dust . Hain. If all these states got bail out why have pdp and their cohorts been single out Osun state Aregbe for crucifixion.

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  21. Fayose, so you have been owing workers in your state, and you will come out and make so much noise. Thank God for you that your people are stupid.
    I trust the people of Osun

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  22. After taking over the local government allocation funds in Imo State for four years MY GOVERNOR ....MY GOVERNOR still have the guts to request for bailout?

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  23. After taking over the local government allocation funds in Imo State for four years MY GOVERNOR ....MY GOVERNOR still have the guts to request for bailout?

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  24. Since am seeing imo, hope rochas will pay us our money?

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  25. Up Anambra State. We need no bail out funds. We only need equal opportunities for the federating states.

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  26. dere should pay deir workers, not mismanagement

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  27. My Governor must ensure he uses that money accordingly.It shouldn't govto his wardrobe coz we all know he's a fashion freak

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  28. i tot they said there is no money lol

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  29. THNK GOD FOR DAT...TOMJERRYSWIT

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  30. I hope they use it well. We just keep hearing big amounts all the time and the states are a sorrysight.Salaries not paid, highly underdeveloped. God help Nigeria.
    naijaflo.com

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  31. Nice one. hope they use it judiciously.

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  32. nice one. hope they use it judiciously.

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Disclaimer: Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the views of Linda Ikeji.

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