States government receives N1.2trn over deductions on Paris, London Club loans

There is strong indication that 36 states of the federation have secretly received over N1.220 trillion of excess deductions on Paris and London Club Loans on the accounts of state and local governments from February 1990 to March 2002.
This was revealed by Senator Dino Melaye on his Facebook account early this morning.
Senator Melaye stated that the monies were credited into the respective accounts of all the 36 states of Federation on Monday 21st November, 2016.
According to him, “the thirty-six states of the federation collectively received over $4bn being the over-deductions on Paris and London Club Loans on the accounts of State and Local Governments from February 1990 to March 2002. Nasarawa State received over N68bn, CBN confirmed.”
He explained that the details from both the CBN and Federal Ministry of Finance headquarters showed neighboring States, Kogi received about N80 billion, Plateau and Benue got N75 billion and N91 billion respectively. Meanwhile, the states of Osun and Edo got N84 billion and N82 billion respectively.
While that of Plateau State was paid into a UBA account (1019894291), that of Nasarawa State as confirmed from Govt. House was paid into Fidelity and Skye Banks for State Govt. (N46 billion) and Local Govts. (N22 billion) respectively, he said.
“Regrettably, all the 36 states governors don’t want the general public especially civil society organizations (CSOs) to know about these monies, hence the secrecy of the payment.
However, approving the disbursement of this sum of over $4 billion to all the 36 states in naira, President Muhammadu Buhari directed the States Governors to use the monies to settle the civil servants salaries and welfares.
“We hope with this money, Gov. Aregbesola will pay civil servants their salaries in full both at the state and LGAs levels to ameliorate the suffering of our people as directed by the federal government.”
He however called on Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC) to monitor the spending of these huge $4 billion disbursed to the 36 states governors especially that of Osun State.