- The federal government is set to refund Zamfara state the sum of over N56 billion spent on the reconstruction of some federal roads across the state
- The state governor, Abdul'aziz Yari, said the federal government has directed the federal ministry of finance and the Central Bank of Nigeria, to issue equivalent of cash payments known as promissory notes
- Yari commended President Muhammadu Buhari for his administration's financial support to states, adding that the president has remained consistent in ensuring the economies of the state remain steady
The federal government is set to refund Zamfara state a sum of over N56 billion spent on the reconstruction of about 610 km federal roads across the state, Punch reports.
Legit.ng gathered that the state governor, Abdul'aziz Yari, disclosed this to the state assembly during the presentation of the 2018 budget
He said: “President Buhari has directed the federal ministry of finance and the Central Bank of Nigeria, to issue promissory notes, which is equivalent to cash payment.
“The sum is reflected in the course of the 2018 budget implementation."
The governor also commended the federal government for a sustainable financial support to states. He said that President Buhari has remained consistent in ensuring that economies of the states remain steady.
Governor Yari said the various intervention by the federal government in ensuring economic stability of the states include bailout, infrastructure development loan, facilitation of loan restructuring, London/Paris club refunds, and budget support.
He disclosed that since the inception of Buhari's administration, the federal government has been disbursing budget support to states whenever the federation account falls below N600 billion.
Meanwhile, Legit.ng had previously reported that three governors had reportedly been indicted for diverting the London-Paris Club refund, according to a source of the Economic and Financial Crimes Commission.
This was in addition to two governors who had earlier been indicted for diverting the refund.
A source of the EFCC also revealed that an account linked to the Nigerian Governors Forum with suspicious transactions related to the Paris Club refund had been discovered.
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