5 more states receive FG’s bail out funds | Welcome to Linda Ikeji's Blog

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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:

Unknown said...

Seen

Blog It With Olivia said...

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













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

Blog It With Olivia said...

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













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

Unknown said...

Ok

Northern Princess 7 said...

Notes... #ILoveNigeria

Unknown said...

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

Unknown said...

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

Gabriel said...

Happy Birthday @ LindaIkeji. More blessing ..

Unknown said...

Nawa o

Unknown said...

Nawa o

Nene Tyson said...

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

Unknown said...

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

Unknown said...

Oh!

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

SayTheTruth said...

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

Alloy Chikezie said...

I hope the money is utilized judiciously.

Your comment will be visible after approval.

Unknown said...

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

Unknown said...

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

Unknown said...

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

ELENA (HER MAJESTY) said...

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

Unknown said...

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

Unknown said...

Ok. Noted

Anonymous said...

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

Anonymous said...

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

Anonymous said...

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.

Anonymous said...

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.

Anonymous said...

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.

I B M bolubantin said...

That's great....thanks FGN

I B M bolubantin said...

That's great....thanks FGN

Unknown said...

Okay o

Anonymous said...

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

Outlook said...

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?

Anonymous said...

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?

Unknown said...

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

abujakenneth said...

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

Anonymous said...

dere should pay deir workers, not mismanagement

Bonita Bislam said...

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

Unknown said...

That's great!

Thec said...

i tot they said there is no money lol

Anonymous said...

THNK GOD FOR DAT...TOMJERRYSWIT

NaijaDeltaBabe said...

Wats really going on?

naijaflo said...

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

Unknown said...

Nice one...











#TeamBlessed#

Unknown said...

Nice one...











#TeamBlessed#

yawanow said...

Nice one. hope they use it judiciously.

yawanow said...

nice one. hope they use it judiciously.

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