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The Minister of Finance, Mrs Zainab Shamsuna Ahmed, has clarified that the N691.560 billion Paris Club refunds to states has already been disbursed to them since March 2019 after verification.
The statement came following widespread calls on the Federal Government not to pay the money until May 29 when new governors would have assumed office.
A statement by her Special Adviser on Media and Communications, Mr Paul Ella Abechi, said it is not true that the FG hadn’t paid the states.
The Minister pointed that “For the final phase of the Paris Club debts refunds, the total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be refunded to the State Governments.
“The payments made by the CBN as at March 2019, is N691.560 billion. The increase in CBN payments partly arose from exchange rate differential at the point of payment.’’
The statement also said that there is no other tranche of Paris Club Refunds to be disbursed to states, because the money has already been disbursed in March 2019.
The statement came following widespread calls on the Federal Government not to pay the money until May 29 when new governors would have assumed office.
A statement by her Special Adviser on Media and Communications, Mr Paul Ella Abechi, said it is not true that the FG hadn’t paid the states.
The Minister pointed that “For the final phase of the Paris Club debts refunds, the total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be refunded to the State Governments.
“The payments made by the CBN as at March 2019, is N691.560 billion. The increase in CBN payments partly arose from exchange rate differential at the point of payment.’’
The statement also said that there is no other tranche of Paris Club Refunds to be disbursed to states, because the money has already been disbursed in March 2019.
