The Federal Government had approved $2.1bn as intervention package in 2015 to help bankrupt states pay salaries and offset contractors’ obligations. The Sokoto governor also tried to resolve the differences between the CBN and the Edo State Governor, Godwin Obaseki, who alleged that N60bn was printed to augment the March 2021 Federation Account Allocation Committee funds for states. Both the CBN and the finance minister had repeatedly faulted the claims of Obaseki, a development that made the apex bank to threaten that it would start recouping the $2.1bn loans soon. But during his comments on Monday, Tambuwal pleaded with the finance minister and the CBN governor not to move to recover the debts. He, however, stated that if the CBN got such plea, the apex bank would act on it appropriately.

Source: Punch April 20, 2021 23:19 UTC