Bailout Funds

The President gave the directive to the Minister of Finance, Kemi Adeosun, and the Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele during a special appearance at Thursday’s National Economic Council, NEC, meeting.

Governor of Niger State, Abubakar Bello has set up a seven-man panel of enquiry to look into how the 12 Local Government Areas in the state utilized the N4.4 billion bailout funds given to them for payment of salary arrears to workers, noting that many of the LG bosses diverted the fund.

The Federal Government has accused Governor Bene Ayade of Cross River State of misappropriating bailout funds given to the state to clear arrears of workers’ salaries and pension.