Presidency orders payment of outstanding Paris Club refund

macfranc007 December 16, 2017 Nigeria News today & Breaking news ▷ Read Nigerian newspapers 24/7 David Oladele

- The federal government released of the final tranche of the Paris Club refund to 27 states

- The government earlier released the sum of N388.304 billion out of the N522.74 billion

- The money was to enable states offset outstanding salaries and pensions

The federal government on Saturday, December 16, confirmed the release of the final tranche of the Paris Club refund to 27 state governments.

Punch reports that the director, home finance, federal ministry of finance Siyanbola Olubunmi made this known confirmation while speaking at the end of the federation account Allocation Committee meeting held at the headquarters of the ministry of finance.

Olubunmi said about ten other states will soon be paid by the ministry, saying that their payments is being delayed by some processes.

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The director who did not provide the amount that was paid said as soon as the processes are completed, the fund would be released to the states.

Meanwhile, NAIJ.com had reported that President Buhari ordered the release of about N522.74 billion to all 36 states in the first tranche of the Paris Club refund in December 2016.

The federal government later released the sum of N388.304 billion out of the N522.74 billion.

The funds were released following protests by states against over deductions for external debt service between 1995 and 2002. The money was to enable states offset outstanding salaries and pensions.

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