Paris Club: We Didn’t Receive 9Bn Naira – Kwara Govt.

Kwara state government has described as outright falsehood, media reports that it received nine billion Naira as its share of the London-Paris Loan Club refund from the federal government.
Reacting on behalf of the government, the State Commissioner for Finance, Demola Banu, explained that the state government has only received and declared five billion naira so far from the federal government but was yet to receive the balance of about 3.7 billion.
The Senior Special Assistant to the Governor on Media, Dr Muyideen Akorede, in a statement, disclosed that the Finance Commissioner has also given the assurance that the state government was in the process of getting the Federal Ministry of Finance, Abuja to process and release the balance.
Banu’ also emphasized that all states were supposed to receive 25% of their claim, which in the case of Kwara state, amounted to about N9billion, pending final reconciliation, and that only N5billion of the claim was released to the state as announced earlier.
He said that having made a strong case for the balance of the 25%, the state government was expecting the release of approximately N3.7billion from the federal government anytime from next week.
Banu said that additional installments of the remaining 75% were also being expected by the state once the figures are verified.
The statement also revealed that Governor Abdulfatah Ahmed was personally coordinating efforts to secure the outstanding fund and had travelled to Abuja on different occasions to meet with federal officials to ensure timely reconciliation and release.
Akorede assured that once the money is received, Governor Abdulfatah Ahmed would approve the release of local governments’ share of the fund to pay the proportion of staff and pension arrears the fund can cover.
He said that there was no way the government would announce funds which it had not received from the federal government or any other source.
Akorede recalled that from N5billion earlier received by the state government from federal government for the London-Paris Club loan over-deductions in November 2016, Governor Ahmed had directed the release of N1.4billion to local governments to augment their allocation for the payment of November and December 2016 salaries, while another N892million was released to clear salary arrears at tertiary institutions in the state.

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