Connect with us

latest

Banks seized state bailout funds over debts

Published

on

Zenith Bank is Nigeria’s best, says Global Finance

The Governor of Zamfara State, Abdualziz Yari, has said the $2.1 billion dividend paid into the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG), which the Federal Government used to bail out debtor- states, were seized by some banks over debts.

The fund was part of the presidential palliative as intervention package to help bankrupt states settle salary arrears.

Yari, who again met with Vice President, Prof Yemi Osinbajo (SAN), Tuesday night, told State House Correspondents, that no other bail-out aside the NLNG has been released to states, but that some states had theirs seized because they were lagging behind in their loans repayment.

Yari, who is also the Chairman of the All Progressive Congress (APC) Governors Forum, said, “what I am saying, no money has been released yet, but I think the NLNG money that was given, some states, their shares were taken by the banks because of debts. So, automatically, that has to go there.

“But I think the Central Bank of Nigeria (CBN) governor is negotiating with the banks on how we are going to share, now we have agreed that this bailout or intervention funds are coming so that they will know the purpose the palliative was made for the states to rescue them to pay staff salaries.

“But for sure, some other governors reported that money went to their accounts, it was taken by some banks because of their outstanding loans”, he said.

Yari also blamed the media for demonizing some governors over their distressed situation, saying if the banking sector and the downstream sector got bail-outs, there was nothing wrong if states in distress are also assisted out.

He said: “The Federal Government wants to give bailout to states because of the situation but the way you guys (the media) are talking about it. Of course, the bailout is in the works and the bailout can be made either to the states or to any sector of the economy.

“As I have been saying, the bailout has been made in the banking sector and bailout has also been made in the downstream sector of the economy.

On West African Examination Council (WAEC) debts owed by some states. Yari said those affected were trying to verify the exact figure and to clear the mix-up of whether the amount covers both government and private schools.

He said, “You see, including my own state. We are in that trouble. But the reason we are in that trouble is because we cannot ascertain the exact figure, which one is for the public, which one is for the private. There was a mix-up.

“So, some state governments need to verify between the WAEC and their ministries of Education and other departments of education. So, that’s why some states cannot pay.

“And yes of course, some states are giving free education. Those WAEC monies are not being paid by the parents. It is being sponsored by the government like ours,” Yari said.

Continue Reading
Advertisement
1 Comment

1 Comment

  1. Sulaimanramon

    July 30, 2015 at 7:48 pm

    Kindly find solutions to workers salary

Leave a Reply

Your email address will not be published. Required fields are marked *

latest

APPLY: WTO opens entry for 2022 young professionals programme

Published

on

The World Trade Organisation (WTO) has opened applications for its 2022 Young Professional Programme (YPP).
The programme provides opportunity for young professionals to enhance their knowledge of the organisation and international trade issues.

In 2021, 14 professionals out of 2,400 candidates were selected for the programme from Bangladesh, Belize, Dominican Republic, Eswatini, Guatemala, Georgia, Indonesia, Malawi, Mauritania, Namibia, Nicaragua, Nigeria, Chinese Taipei and Thailand.

WTO said “The YPP is a unique opportunity to gain hands-on experience which can help open the door for future professional opportunities in the field of multilateral diplomacy and global trade.

“The YPP selection gives preference to young professionals from developing and least-developed countries that are members of the WTO and whose nationals are currently under-represented or not represented in the organization’s Secretariat.

“The programme is part of the Secretariat’s overall goal to increase its diversity to better reflect the make-up of its membership.”

To be eligible, applicants must be of age 32 as of January 1, 2022, and selected candidates will work at the WTO secretariat for one year, starting from the beginning of next year.

The areas of work at the programme includes accessions, agriculture, dispute settlement, intellectual property rights, market access, media and external relations, WTO rules, trade and development, trade and environment, trade in services and investment, trade facilitation, trade policy analysis and trade-related technical assistance.

WTO said candidates must have advanced university degree in law, economics, or other international trade-related subjects relevant to WTO work; must possess relevant expertise or continued academic study in a field of interest to the work of the WTO.

Equally, candidates must similarly have a minimum of two years relevant work experience.

The trade organisation further said selected candidates will be paid $3821.66 (N1,454,141.63 million) monthly and applications can be accessed on the WTO e-Recruitment website and should be completed no later than 29 April 2021.

Continue Reading

latest

Buhari receives briefing from Osinbajo

Published

on

Vice President Yemi Osinbajo on Monday briefed President Muhammadu Buhari at the Presidential Villa, Abuja.

The President had last Thursday returned to the country after a16-day medical trip to London, United Kingdom.

He left Nigeria on Tuesday, March 30, briefly after a security meeting with defense and intelligence chiefs as well as other security sector managers.

Continue Reading

latest

Gunmen attack Imo police station, kidnap officer

Published

on

Gunmen

A police officer has been abducted in an attack on Mbieri Divisional Police Headquarters in Mbaitoli Local Government Area of Imo state on Thursday morning.

This comes three days after the state Police Command headquarters and Owerri Correctional Center were attacked while 1,884 inmates released.

A resident of Mbieri said the gunmen released the suspects in custody.

However, the policemen on duty were said to have engaged the attackers in a gun duel but they were reportedly overpowered by the gunmen who had sophisticated weapons.

A community leader, Nokey Ebikam, told newsmen that the police divisional headquarters was not burnt but only freed the suspects in detention after vandalizing it.

Police Public Relations Officer in the state, Orlando Ikeokwu, confirmed the attack on the police station but did not go into details.

It was gathered that aside the officer who was abducted, two others sustained injuries in the incident which is the second major attack on a police station since an armed gang invaded the state police headquarters on Monday.

The Police authorities have blamed the attacks on the outlawed Indigenous People of Biafra (IPOB) but the group has distanced itself from the attacks.

Continue Reading

Trending