614bn bailout fund: Governors are repay loans - Fayemi
- States governors have said that they are ready to pay the N614 billion bailout funds to the federal government
- Governor Kayode Fayemi, the chairman of the Nigeria Governors Forum (NGF), said that they the payment will commence only after they have reconciled accounts with the federal government
- Fayemi added that the process of the reconciliation of the states' accounts have commenced
State governors in Nigeria have said that they are both willing and ready to pay the N614 billion bailout funds which the federal government gave during the 2015 - 2017 economic recession.
This position of the governors was revealed by Governor Kayode Fayemi, the chairman of the Nigeria Governors Forum (NGF) in Abuja on Thursday, September 19, Channels TV reports.
However, Fayemi stated that payment of the funds will take place only after the governors have reconciled their states' accounts with the federal government.
He said: “It’s a storm in a teacup when we read about governors refusing to pay. We don’t have such an issue. We are ready to pay.
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“If you borrow, you pay. Governors have never been averse to payment of loans that we took under legal environment and we don’t want a situation that will put our financial system in jeopardy.
“Just as we are ready to pay, we also have a duty to ensure recompilation of accounts as far as money owed to states may be concerned.”
Meanwhile, Legit.ng reported that the federal government would commence recovering the N614 billion bailout fund loaned to the state governments from September, 2019.
The newspaper reports that the minister of finance made the disclosure while presenting the draft 2020 to 2022 Medium Term Expenditure Framework and Fiscal strategy Paper on Tuesday, September 10.
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Source: Legit.ng
