Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,209,696 members, 8,006,871 topics. Date: Tuesday, 19 November 2024 at 12:04 PM

How States Diverted Now Infamous Fed Gov Bailout Funds For Personal Use. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / How States Diverted Now Infamous Fed Gov Bailout Funds For Personal Use. (370 Views)

12 States Owe Salaries Despite Bailout Funds From FG / How States Are Coping In This Recession (See List) / How States Squandered FG Bailout Funds (2) (3) (4)

(1) (Reply)

How States Diverted Now Infamous Fed Gov Bailout Funds For Personal Use. by luciomoggi(m): 6:53pm On Apr 24, 2016
According to a comprehensive analysis by the Independent Corrupt Practices and Related Offences Commissions, ICPC, in conjunction with the Nigeria Labour Congress, many states had lied that they were owing workers their salaries in order to get the now
infamous bail out from the Federal government which was then diverted and used for personal purposes .

23 States out of a total of 27 that applied for the funds had received their bailout from the Central Bank as of December 2015. The following states were those who received the bailout funds: Adamawa , Bauchi, Benue, Cross River, Ekiti, Enugu, Delta, Katsina, Gombe, Kogi, Kebbi, Nasarawa, Niger, Ondo ,Osun, Ogun, Oyo, Plateau, Sokoto, Kwara ,Bayelsa, Imo and Zamfara.

The commission revealed that Imo State had diverted the bailout funds to two commercial banks (N2 billion paid into a Government House Account, N2 billion lodged into Imo State Project Account, N2 billion paid into a micro-finance bank and finally N21 million paid into an unspecified account with little or no concern of paying it's workers .

Adamawa State had earlier claimed that they did not owe outstanding salaries as at September 2015, but shocking quickly admitted owing of salaries so as to apply for the bailout and once the bailout was pai (N9,578,360,000) only N2,378,360,000 was disbursed for payment of salaries and the remaining N7,200,000,000 unaccounted for till date.

Bauchi State is another state who made the same claim with Adamawa and when it received N8,609,100,000 it paid out only N8,414,088,383, thereby not accounting for the balance of N95,011,616.

Ekiti State who owed one month salary as at October 28th 2015, received N9,604,340,000 but only paid out N9,213,816,252 with the balance of N390,613,747 unaccounted for.

Enugu State received N10,174,238,681 as it's bailout fund as at 16th November 2015 but disbursed only N5,967,238,681 with the remaining balance unaccounted for.

Delta state was granted N10,936,799,299 but ended up disbursing only N8,129,888,279 leaving the balance of N2,806,911,019 unaccounted for.


Oyo State was reported to have received N26, 606,944,831 but only disbursed N25,495,292,422 leaving a balance of N1,111, 652,408 unaccounted for after owing four months salary as at 7th April 2016.

Ogun State was the only exception as it paid out all of N18, 916,208,664 for salaries with no left balance.

Source

http://mailtelegraph..com.ng/2016/04/icpc-reveals-how-states-diverted.html?m=1

Re: How States Diverted Now Infamous Fed Gov Bailout Funds For Personal Use. by talktonase(m): 7:03pm On Apr 24, 2016
Then i guess the anticorruption war is an absolute charade.

(1) (Reply)

It Is Great Pleasure To Sign Delayed Budget – Buhari / FANTASTICALLY CORRUPT COUNTRIES: Fayose Blames Buhari For Cameron’s Comments / Photos: Orji Uzor Kalu Araigned In Court For Alleged N5bn Theft

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 12
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.