Paris Club Refund: Rivers, Others Get Final Tranche

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Rivers, Delta, Bayelsa, Akwa Ibom and Kano States, are among the 27 States in the federation which have received the final tranche of the Paris Club Loan Refund.
A breakdown shows that the five states received the highest amount of N10billion each.
The Tide sources said that the total amount of N50billion received by the five states represents 20.5 per cent of the entire amount released under the second tranche.
The Federal Government confirmed the release of the final tranche of the Paris Club refund to 27 state governments, last Saturday.
The Director, Home Finance, Federal Ministry of Finance, Mrs Siyanbola Olubunmi, confirmed the release of the fund to the 27 states while speaking at the end of the Federation Account Allocation Committee meeting held at the Ministry of Finance headquarters in Abuja.
She said about 10 other states have yet to be paid by the ministry, adding that payment to them was being delayed by their inability to meet basic Fiscal Responsibility Act processes.
Olubunmi, who did not provide details of the amount to be paid to the remaining states, said as soon as the processes were sorted out, the fund would be released to the states.
It was learnt that payments to some states may be delayed as a result of a suit filed by the consultant engaged by the Nigerian Governors’ Forum.
It would be recalled that the Federal Government had in July, released the second tranche of N243.79billion, bringing the amount so far disbursed to states as refund under the Paris Club Loan to N760.17billion.