The Central Bank of Nigeria (CBN) has paid the balance of N30.8 billion bailout fund to Kogi state government account according to the governor, Yahay
The Central Bank of Nigeria (CBN) has paid the balance of N30.8 billion bailout fund to Kogi state government account according to the governor, Yahaya Bello who disclosed this at the government house in Lokoja, on Monday, during the groundbreaking ceremony for the building of a chapel for Christians within the premises of the Kogi government house.
The administration of Idris Wada, former governor of the state, had applied for a bailout fund of N50.8bn to offset salaries of workers. The CBN had, in 2016, released N20 billion of the fund to Bello. Bello thanked President Muhammadu Buhari for approving the request. He also appreciated Godwin Emiefele, CBN governor, for ensuring the release of the fund.
Recall that Bello had obtained loans of at least N16 billion between May 2017 and January 2018, despite fund accrued to the state from the Paris Club refund. Even the organized labour in the state had accused Bello of owing workers eight to 39 months salary.
Meanwhile, BudgIT, a data-simplifying civic organisation for good governance, had accused Buhari of granting bailouts without any form of accountability.
