Paris Club: Kwara yet to receive final tranche - Banu

Date: 2018-11-26

The Kwara Government says it is yet to receive the second tranche of the London-Paris Club Refund promised by the Federal Government.

Commissioner for Finance, Alhaji Demola Banu, told newsmen on Monday in Ilorin that the government has done all the necessary reconciliations that is required for such refunds.

He also told newsmen that while the state government had already made fresh presentation on the refunds to the new Minister of Finance, Zainab Ahmed, it had yet to receive the expected funds from Abuja.

The commissioner expressed optimism that since states like Osun, Benue, Oyo, and Delta have received their final tranches of the refunds, the Kwara government whould also get its soon.

Banu also informed that this month's FAAC meeting is likely to hold in Abuja on Wednesday.

According to him, it is after the meeting that funds from the monthly allocation are likely to be released to the state government for the payment of salaries and other obligations.

The News Agency of Nigeria reports that the state government promised to use the bulk of the funds to assist Local Government Councils in the payment of salaries and pension arrears, SUBEB and other liabilities.

NAN reports that on July 18, 2017, the Federal government released details of the second tranche of Paris Club refund to States totaling N243. 795 billion. The refund is in respect of over-deductions on Paris Club, London Club Loans and Multilateral debts from 1995 to 2002.

A statement by the Federal Ministry of Finance showed that Kwara is to get N5.120 billion

The payment to the 36 States and the Federal Capital Territory were made upon the approval of the President on May 4, 2017, in partial settlement of long-standing claims by State Governments relating to over-deductions from their Federation Account Allocation Committee allocation for external debt service arising between 1995 and 2002.

These debt service deductions were in respect of the Paris Club, London Club and Multilateral debts of the Federal and State governments.

While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some States had already been overcharged.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

ANCOPPS     Bello Oyebanji     Lanre Olosunde     Emir Of Yashikira     Olatunji Ayeni     Third Estate     Sabi     KWSIEC     Ajidagba     Inside Kwara     Tanke Road     SGBN     Aliyu U. Tilde     Ishola Balogun Fulani     Azeez Salawu     Kuliyan Geri     SUBEB     Olabimpe Olani     Pakata Development Association     Aliyu Alhassan     Aliyu Muhammad Saifudeen     Sola Saraki University     Abdulrasaq Alaro     Mustapha Olanipekun     Olanrewju Okanlawon Musa     RTEAN     BECE     Kayode Bankole     Nurudeen Muhammed     Saliu Ajia     Ajia-Bako     Budo Egba     Rotimi Samuel Olujide     Ambassador Kayode Laro     YAKOOYO     Baba Idris     Saheed Alakoso     Abubakar Usman Jos     Aliyu Olatunji Ajanaku     Olayinka Jelili Yusuf     Bukola Ajikobi     Alumni Association Of The Federal Polytechnic Offa     Hassan A. Saliu     Ali Ahmad     IYA YUSUF     Salihu Ajibola Ajia     Muhammed Danjuma     Special Agro-Industrial Hub     Pakata Patriots     Irepodun     Dele Belgore     Abdulkadir Akanbi-Oke     Ramadhan     Siraj Oyewale     Press Release     Olabode George Towoju     Abiodun Abdulkareem     Ayoade Akinnibosun     Alimi     Yomi Ogunsola     Omu-aran     Shuaibu Yaman Abdullahi     Kwabes     Pius Abioje     Fatima Abolore Jimoh     Kwara Basketball Association     Sola Saraki Educational Foundation     Babaita     Kunle Akogun     Tuesday Assayomo     Yahaya Dumoye     Nagode     Oke-Odo     Just Law Forum     Bello Abubakar     Isiaka Alikinla     Elerin Of Adanla Irese    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Mohammed Abduraheem     Principal Private Secretary     Ilorin Innovation Hub     Aliyu Muhammed     NIRSAL     Abdulrauf Aliyu     Mazars Consulting     Muhammad-Mustapha Suleiman     Saadatu Modibbo-Kawu     Academic Staff Union Of Universities     Okin Biscuit     Salihu Yahaya     Olatunji Moronfoye     Abdulahi Abubakar Bata     Ayodele Shittu     2017 Budget     Sherif Shagaya     Bashirat Bola Bello     Ilorin Likeminds Foundation     T And K FOODS     Arandun     Donatus Ejidike     LAK Jimoh     Adamu Attah     Oloyede     Abdulazeez Arowona     Danladi     Fatima Abolore Jimoh     Kwarareports     Abdulrahman Abdulrazaq     Habeeb Saidu     Kumbi Titilope     Oye Tinuoye     Bamikole Omishore     Olushola Saraki     Haashim Initiative For Community Advancement     Iponrin     Femi Oladiji     Saba Mamman Daniel     Eghe Igbinehi     Niyi Ogundiran     Galadiman Ngeri     Isiaka Saka Opobiyi     Kupchi Hosea Maxwell     Kwara State Television     Albert Ogunsola     Lucky Omoluwa     Tinubu     Apata Ajele Secondary School     Ahmed Bolaji Nagode     Trade Lenda SME Fair     Sola Saraki University     Matthew Babaoye     KFA     James Kolo     NNPP     Majlis For Sadakah, Zakat And Waqf     Omotosho     Kwara State Fire Service     NIPR     Tayo Awodiji     Ilorin South Constituency     Abdulrahman Abdulrazak     Galland Marcias     Mustapha AbdulGaniyu     Adeniyi Ojo     Musa Abdullahi     Bukola Saraki     Kazeem Oladepo     UITH     Muyideen Ajani Bello     Kayode Laro     MAI Akande     Olam Food Ingredients     Lai Gobir     Oko-Olowo     Maigida Soludero Transit