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FG To Stop Servicing Paris Club Debt From State Govts Accounts

Following years of servicing the Paris Club debt from the state account, the Federal Government (FG) through the Ministry of Finance has agreed to stop deductions from the state governments accounts.

In a Communique signed on Wednesday at the end of the 7th Emergency meeting of the Nigeria Governors’ Forum (NGF) held on Tuesday, the Sokoto State governor Aminu Tambuwal revealed that the Finance Minister Zainab Ahmed has approved the refund of previous deductions from the respective states’ accounts.

The outgoing chairman NGF, Tambuwal disclosed this during the meeting while briefing governors across the 36 states in the country.

Recall that there had been controversy surrounding the accumulated sum of $418 million from the Paris Club refund.

Also, at the meeting the outgoing chairman disclosed that the Governor of Kwara State, Abdulrahman Abdulrazaq is the new Chairman and the Governor of Oyo State Seyi Makinde is now the Vice-Chairman.

Tambuwal noted that the emergence of leadership was done through Consensus.

He also revealed that members of the NGF expressed satisfaction with the success of the just concluded induction for new and returning Governors that took place between the 14th and 19th of May, 2023.

Tambuwal added that members are committed to sustaining collaboration among the States through enhanced peer review, learning at the sub-national level, and deepening the relationship with the FG and other institutions.

First Bank

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