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Paris Club refunds: Bayelsa State admits receiving additional N6.6bn

By NAN   |   15 June 2017   |   3:12 pm  

Bayelsa government has admitted receiving additional N6.61 billion as part of the state’s share of the first tranche of the N516.38 billion Paris Club refund.

The state deputy governor, Rear Admiral John Jonah (rtd) said on Thursday in Yenagoa that the state received additional N6.61 billion in March 2017.

“The Paris Club refund to states is not a gift from the Federal Government to pay salaries; it is state governments’ money that was deducted without consulting the states.


“At a meeting, it was decided that the money should be paid in two instalments. A chart was drawn and the entitlements of every state were written.

“But the Federal Ministry of Finance and the Central Bank of Nigeria decided that if the money was released to states for payment of salaries, there would be too much money in circulation.

“It was then decided that the money would be paid in four instalments, which is 25 percent at a time.

“When the first 25 percent was paid, Bayelsa state could have received N21.168 billion, but when the money came, they only released N14.5 billion to us.

“But again, the N14.5 billion was not for the state government alone, because out of the amount, N1.3 billion was for the local government councils.

“So, what actually came to the state government was the balance of N13.2 billion, “Jonah said.



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