bailout fund

  1. K

    Metro Paris Club Refund: 2 Governors in Trouble Over Embezzlement of $3m, N500m

    The Economic and Financial Crimes Commission (EFCC) has fingered two governors in the misapplication of Paris Club Refund. Already, a mortgage firm has returned to EFCC N500 million said to be part of the Paris Club refund kept with it by one of the governors. The EFCC is probing the...
  2. K

    Business FG Reveals How Much Each State Received From Bailout First Tranche [FULL BREAKDOWN]

    Facts have emerged on how the Federal Government allocated the first tranche of N516.38bn reimbursement made to the 36 states of the federation and the Federal Capital Territory from the Paris Club debt refund. According to the schedule of reimbursement released by the Federal Ministry of...
  3. K

    Business Fayose’s Ekiti Omitted as FG Releases N388.304b Bailout To 17 States [LIST AND BREAKDOWN]

    The Federal Government has released N388.304 Billion to 17 States as part of the N522 Billion bailout funds approved by President Muhammadu Buhari for some states with Governor Ayo Fayose's Ekiti State omitted from the first batch. Rivers State, Lagos, Delta and Akwa Ibom State tops the List...
  4. RemmyAlex

    Politics ICPC Explains Facts Behind Bailout Funds Usage By States Governors

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) on Thursday said it never reported that some States diverted bailout funds. The Chairman of the ICPC, Mr Ekpo Eta, told Channels Television that the report was given different interpretations by different media...
  5. RemmyAlex

    Business Nigeria: 7 States Meet FG Condition For N90Bn Bailout Fund

    Only seven states have met requirements stipulated to access N90bn conditional loan facility by the Federal government. According to PUNCH, a top government official stated that documents of the states that had applied for the loan facility were being reviewed by the Federal Government. The...
  6. RemmyAlex

    Metro Kogi: CBN Approves N20bn Bailout Fund For Governor Bello

    The Central Bank of Nigeria (CBN) has approved N20 billion as bailout for the Kogi Government. The state gov., Alhaji Yahaya Bello, announced this on Sunday in Lokoja while addressing a rally held by Organised Labour to mark this year’s May Day celebration. Bello explained that the N20 billion...
  7. RemmyAlex

    Metro Okorocha Reacts to ICPC Report on Diversion of Bailout Fund

    The Imo State Government yesterday reacted to the claim by the Independent Corrupt Practices and other Related Offences Commission (ICPC) that it misapplied the bailout funds collected from the Federal Government for the payment of workers’ salary arrears. The government said the bailout fund...
  8. K

    Politics See the 3 States ICPC Accused of Diverting FG Bailout Fund

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC) in the document, ICPC/P.E/27/S.1, which was dated April 22, 2016 informed that some states are yet to fully utilize the Federal Government bailout fund. The agency also indicted some of the states for diverting...
  9. RemmyAlex

    Politics Bayelsa Receives N1.2bn Bailout

    The Bayelsa State government has received N1.24billion as bailout fund from the federal government. The Deputy Governor of the state, retired Rear Admiral Gboribiogha John Jonah, disclosed this yesterday in Yenagoa at the government’s Transparency Briefing for the month of January 2016...
  10. RemmyAlex

    Politics Governor Okorocha Reacts To The Alleged Diversion of N2bn Bailout Fund

    Governor Rochas Okorocha of Imo state yesterday reacted to the diversion of N2bn bailout funds by government officials, as claimed by the Economic and Financial Crimes Commission (EFCC). The EFCC has last week arrested three government appointees: Principle Secretary to the Governor, Dr. Pascal...
  11. RemmyAlex

    Metro Imo: EFCC Arrests Okorocha’s Aides for Diverting Bailout Fund

    Three top officials of the Imo state government were arrested by operatives of the Economic and Financial Crimes Commission, EFCC, yesterday for allegedly diverting the sum of N2bn bailout meant for the payment of salary arrears of the state’s civil servants. The suspects are Dr. Obi Paschal...
  12. RemmyAlex

    Metro How Aregbesola Inflated Airport Contract By N11.5bn - PDP

    The Peoples Democratic Party has accused Governor Rauf Aregbesola of inflating the contract sum of the Moshood Abiola International Airport, Ido Osun, from N4.5bn to N15.5bn. This was made known by the Director of Media and Strategy of the PDP in the state, Mr. Diran Odeyemi on Sunday. The...
  13. RemmyAlex

    Politics Rep Drags Buhari To Court Over Bailout Funds To States

    A member of the House of Representatives, Hon. Igariwey Iduma Enwo, yesterday dragged President Muhammadu Buhari and five others to court over his release of bailout funds to state governments, contending that the presidential directive contravenes Sections 162, 163, 164 and 168 of the 1999...
  14. RemmyAlex

    Metro Nasarawa LGs Receive N4.3 Billion Bailout Fund, Needs Additional N1b

    Nasarawa State Local government councils have received N4.3 billion bailout fund from the State Government to pay salaries of their workers and will need an additional of N1 billon to clear off salaries. Alhaji Suleiman Wanbai, Chairman of Lafia Local Government Area and Chairman of Association...
  15. RemmyAlex

    Politics Bailout is a loan, not gift - Wada tells Buhari to release fund

    Idris Wada, the Governor of Kogi state has cautioned President Muhammed Buhari to be careful of those playing politics with the issue of bail out fund earmarked for states. Lamenting the non-release of the fund to Kogi, Wada said it was unfortunate that months after fulfilling the necessary...
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