Kwara, Zamfara first to get CBN bailout funds
The CBN said the two states were ones that qualified for the fund so far among the 27 applicants.
The central bank in a statement on Wednesday also revealed that it has approved the request by deposit money banks to provide financial accommodation to state governments to enable them pay the backlog of salaries of their workers.
“This is sequel to the decision by the National Executive Council (NEC) at its meeting of 29th June, 2015 requesting the Central Bank of Nigeria, in collaboration with other stakeholders to appraise and consider ways of liquidating the outstanding staff salaries owed by state and local governments.
“The conditions for accessing the loan facility include resolutions of the State Executive Council authorizing the borrowing and State House of Assembly consenting to the loan package, as well as issuance of Irrevocable Standing Payment Order (ISPO) to ensure timely repayment.
“Out of the 27 states involved, funds have been disbursed to two states namely Zamfara and Kwara States that met the requirements as agreed with their respective banks. Efforts will be made in the coming days to conclude disbursements to other States so that all outstanding salaries to Civil Servants can be cleared,” the statement added.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Ayinke Saka Babs Iwarere Ijagbo Split Diamond Interchange Chartered Institute Of Personnel Management Of Nigeria Kwarareports Lanwa Alikinla Saidu Kawu Special Agro-industrial Processing Zone Adesoye Agboola Abdulraheem Y.A. Abdulkareem Hajj Umaru Saro Suleiman Alege Kuranga Adamu Jemilat-Baki Okala Baba IFK CKNG Kaiama Joseph Yemi Ajayi Saad Omo\'ya Sanitation Exercise New Model Police Station Saidu Yaro Musa Ilorin Muslim Community Maigidasanma Yakubu Danladi Oyelere Oyinloye Bukola Ajikobi AbdulRauf Keji Abdulazeez Uthman Abubakar Bature Sulu-Gambari Oke-Ero Olatunji Ibrahim Oke-Kura CUTI Anilelerin Damilola Yusuf Adelodun Oyin-Zubair Funmilayo Braithwaite Bola Olukoju Kolo Dauda Adesola IYA YUSUF Edret Sabi Abel Democracy Day Kwara State Coalition Of Business And Professional Associations Ayoade Akinnibosun RTEAN Ado Ibrahim Yakubu Dogara Markaz Arabic And Islamic Training Institute, Agege Simeon Sule Ajibola Sadiq Buhari UTME Revenue Court Tanke Flyover Bridge Yusuf Babatunde Abdulwahab Bello John Olanrewaju Abatemi Usman Muhammad Fawaz Abubakar ER-KANG Mining Rebecca Bake Adesina Simon Sodiya Hydroelectric Power Producing Areas Development Commission Kunle Okeowo Saduki Lafiagi Saadu Yusuf Dunmade Abdulkadir Remi Hawawu Ilorin Like-Minds Ahmed Idris Mohammed Mumeen Lah Olatunji Abdulmumeen Jeunkunu-Malete-Bani