The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, says the Federal Government has resolved to recover N614 billion loan facility from 35 states of the federation.
The minister revealed this when she briefed State House correspondents on the outcome of the meeting of the National Economic Council (NEC), presided over by Vice President Yemi Osinbajo, at the State House, Abuja.
Ahmed said each of the affected 35 states received N17.5billion as bailout from the Federal Government.
She said that already the Council had agreed to constitute a team to finalise modalities for commencement of repayment of the loan facility.
The team according to her would be constituted from the Nigerian Governors Forum to meet with the Central Bank of Nigeria (CBN) and Ministry of Finance.
“The Minister of Finance briefed NEC on the progress of the facilitaties detailing how the Federal Government has made a total of over N614 billion…
Source: Thisday Newspaper
