Sunday, 20 September 2015

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CBN Releases Names of 19 States Given Bailout & Amounts Received

CBN Releases Names of 19 States Given Bailout & Amounts Received

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CBN Releases Names of 19 States Given Bailout & Amounts Received .
The transparency procedure continues in Nigeria as the states crying out finally et their bail out money.
The Central Bank of Nigeria, CBN has released names and amounts given to 19 out of the
36 states of the federation that have so far benefitted from the workers’ salary bailout package.

The states that applied for and received various sums from the aid include:

  • Abia (N14.152bn)
  • Adamawa( N2.378bn)
  • Bauchi (N8.60bn)
  • Bayelsa (N12.85bn)
  • Benue(N28.013bn)
  • Borno(N7.680bn)
  • Cross River(N7.856bn)
  • Delta( N10.036bn)
  • Ebonyi(N4.063bn)
  • Edo(N3.167bn)
  • Ekiti (N9.604bn)
  • Enugu (N4.207bn)
  • Gombe (N16.459bn)
  • Imo (N26.806bn)
  • Kastina (N3.304bn)
  • Kebbi (N0.690bn)
  • Kogi (N50.842bn)
  • Kwara (N4.320bn)
  • Nasarawa (N8.317bn)
  • Niger (N4.306bn)
  • Ogun (N20.00bn)
  • Ondo (N14.686bn)
  • Osun(N34.988bn)
  • Oyo( N26.606bn )
  • Plateau (N5.357bn)
  • Sokoto (N10.093bn)
  • Zamfara (N10.02bn)

CBN spokesperson, Ibrahim Mu’azu, said the bailout, which was in line with the recent resolution by the National Economic Council, NEC, was to enable the affected states to pay the backlog of workers’ salary arrears. The package has a 20-year repayment tenor for all states, except Ogun State, which opted for a 10 year tenor.

Mr. Mu’azu explained that contrary to reports that Ogun state accessed N20 billion from the bailout, the state actually received a total of N18.9 billion.

The Nigeria Labour Congress, NLC had on Thursday pledged to work with the Independent Corruption Practices and related offence Commission, ICPC to monitor the use of the N338 billion total bailout meant for use in paying workers. The Congress directed its affiliate councils in the states to serve as whistle blowers to report any criminal diversion of bailout funds by the state governments, PremiumTimes reports. 








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