The Central Bank of Nigeria (CBN) will this week continue the disbursement of its special intervention fund totalling N338 billion to 27 states in the country in line with federal governments plan to boost the economy.

Already, the funds to Kwara, Zamfara and Osun States were disbursed last week and they have commenced the payment of salary arrears to workers in their respective states.

A source at the central bank confirmed that more states would get their special intervention fund this week. From the breakdown of funds made available to the first three states to which monies were disbursed last week, Kwara State got a total of N4.320 billion from the special intervention fund, Osun got N34.988 billion, while Zamfara was given N10.020 billion.

The loans repayable at an interest rate of nine per cent over a 20-year period, also showed that Abia State is expected to get N14.152 billion, while Adamawa State will receive N2.378 billion; Bauchi – N8.60 billion; Bayelsa – N1.285 billion; Benue – N28.013 billion; Borno – N7.680 billion; and Cross River – N7.856 billion.

In addition, Delta has got the central bank’s approval to receive N10.036 billion; Ebonyi – N4.063 billion; Edo – N3.167 billion; Ekiti – N9.604 billion; Enugu – 4.207 billion; Gombe – N16.459 billion; Imo – N26.806 billion; Katsina – N3.304 billion; Kebbi – N0.690 billion and Kogi – N50.842 billion.

Nasarawa is also expected to get N8.317 billion, while Niger will receive a total of N4.306 billion; Ogun – N20.00 billion; Ondo – N14.686 billion; Oyo – N26.606 billion; Plateau – N5.357 billion and Sokoto will get N10.093 billion.

The source, a senior central bank official, stressed that with the disbursement of the N338 billion to the 27 states that applied for the special intervention fund, economic growth would be stimulated through the payment of outstanding salaries to workers who have been owed for months.

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http://monitor9ja.com/2015/08/cbn-injects-n338bn-in-27-states-to-stimulate-economy/

That's cool.. But does it mean states can't work toward sustaining themselves?


So Dangote is richer than most states. Smh


All this yeye Governors that lacks basic economic principles. Posterity shall be the judge.

And they will still act broke.

Where is my state, Anambra? Oh my God. Why didn't my governor want to participate in this national bonanza. He could have collected 40 billion and we pay 2 billion every year. Okwute would have moved fast and have the money channelled well. We miss him though.

Yawns. It is well.

hmmmmmm! and after payment of salaries next month another bonanza!

mek dem apc f**l cee dat a.k.s no nid special intervention fundz o b4 dem cum de mek so much noice 4 ibom plaza

Yeye idea

Instead of probing them on how they wasted the last sets of allocations, Buhari is busy giving more money to spend rift people.

The state should start cutting down staffs that are not productive.