National News

London-Paris Club loans Refund: Kogi get N11b as Rivers, Bayelsa, Delta net N14b

The Federal Government has released N388.304 billion out of N522.74 billion to 35 states as refunds of over-deductions on London-Paris Club loans with Kogi State got N11,211,573,328.19.

The reimbursement profile has shown that some governors fed their states with wrong figures of the sums given to them.

Although most of the governors have begged the Minister of Finance, Mrs. Kemi Adeosun, not to make the list of reimbursements public, The Nation was able to source the breakdown of the reimbursements exclusively.

The document indicated that all the 35 states were credited with their shares of the N388.304 billion as at December 27, 2016.

Our correspondent obtained the names of the bank, the account and the account numbers where each state’s share was remitted.

Only Kano State and the FCT have so far not benefitted from the reimbursements.

A breakdown of the list of top beneficiaries of the refunds is as follows:

Akwa Ibom – N14,500,000,000.00;

Bayelsa – N14,500,000,000.00;

Delta – N14,500,000,000.00;

Kastina – N14,500,000,000.00;

Lagos – N14,500,000,000.00;

Rivers – N14,500,000,000.00;

Kaduna – N14,362,416,363.24;

Borno – N13,654,138,849.49;

Bauchi – N12,792,664,403.93;

Benue – N12,749,689,453.61;

Sokoto – N11,980,499,096.97;

Osun – N11,744,237,793.56;

Anambra – N11,386,281,466.35;

Edo – N11,329,495,462.04;

Cross River – N11,300,139,741.28;

Kogi – N11,211,573,328.19 and

Kebbi – N11,118,149,054.10.

But the Presidency was uncomfortable with the attitude of some state governors to the management of the refunds.

A reliable source in the Presidency, who spoke in confidence, said: “President Muhammadu Buhari has lived up to his pledge to ease salary crises in all the states by releasing N388.304 billion to 35 states.

“The agreement between the Federal Government and the state governors was very clear. While 50 per cent of the amount released shall be used to offset outstanding salary and pension arrears, the remaining 50 per cent would be used for the payment of other obligations.

“Some governors have however reneged on this agreement. Security reports available to the presidency showed that Governor Ayodele Fayose paid only one month out of eight-month salary arrears.

“The same governor went ahead to pay a curious 13-month salary to Ekiti workers. Yet, he got N8.877 billion refund.

“Instead of accounting for what he used the loan refund for, he has the temerity to attack the Federal Government on hardship in the country.

“The relevant agencies are monitoring development in Ekiti and some states.”

Credit: The Nation