Bailout Fund: Nigerian Governors Ready To Repay Loans, Says Fayemi

The Nigeria Governors Forum (NGF) says its members are ready to
commence payment of the N614 billion bailout funds which the
Federal Government gave to some states during 2015 to 2017
financial crisis.

Chairman of the forum and governor of Ekiti State, Kayode Fayemi
in a meeting in Abuja explained that although the governors are
ready to pay, this will happen only after accounts reconciliation
with the Federal Government.

According to him, the reconciliation process is ongoing and
states that are owing are eager to make repayments once the process
is over.

“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.

“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,” he said.

The forum also pledged to give further support to the
Transmission Company of Nigeria (TCN) in order to stabilise
electricity supply.

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