Bailout Fund ‘We haven’t received any money yet,’ Governors say

The governors made the clarification on Wednesday, July 22, 2015, after a meeting of the Nigerian Governors Forum (NGF) in Abuja.

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The governors of Nigeria’s 36 states have said that they have not yet received any bailout funds from the Federal Government.

President Muhammadu Buhari meets with Nigeria's 36 governors play

President Muhammadu Buhari meets with Nigeria's 36 governors

(Twitter)

 

The governors made the clarification on Wednesday, July 22, 2015, after a meeting of the Nigerian Governors Forum (NGF) in Abuja.

President Muhammadu Buhari meets with governors play

President Muhammadu Buhari meets with governors

(Twitter)

 

NGF Chairman and Governor of Zamfara, Abdulaziz Yari, stated that the body would like to “inform our brothers in the media that yet the federal government has not given any bailout to any of the states.”

Zamfara State Governor, Abdulaziz Yari play

Zamfara State Governor, Abdulaziz Yari

(Encomium)

 

Yari said:

“What had been shared last time was monies from NLNG and FAAC and as we have been saying, we have not been looking for bailout, instead, we have been looking for all monies that are in the coffers of the federation most especially we are talking about some of the monies that are hung around the coffers of government to be brought together for the purpose of sharing.”

“The CBN governor raised some issues that taking the monies from those accounts most especially as our reserves are going down will affect the exchange rate and also the naira will have pressure so they decided to make the naira available or its equivalent so that those can be taken as loan to states for some of us complaining about the salaries.”

“Therefore, we are not taking any bail out from the federal government and the federal government did not give us any bail out yet. But we are talking on how best the intervention will happen within these days so we will be able to settle the issue of salaries and other operations in government in the country.”

President Muhammadu Buhari meets with Nigeria's 36 governors play

President Muhammadu Buhari meets with Nigeria's 36 governors

(Twitter)

 

President Muhammadu Buhari had, on July, granted his approval for N713.7 billion to be shared among the states and FG.

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