Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,150 members, 7,977,301 topics. Date: Thursday, 17 October 2024 at 04:21 AM |
Nairaland Forum / Nairaland / General / Politics / Banks Have Seized State Bailout Funds Over Debts - Gov Yari (2248 Views)
12 States Owe Salaries Despite Bailout Funds From FG / Zamfara Killings: The Case Of Blasphemy Was False. Gov Yari / EFCC Arrests Gov. Okorocha’s Aides For Pocketing N2 Billion Bailout Funds (2) (3) (4)
Banks Have Seized State Bailout Funds Over Debts - Gov Yari by khalifjgusau(m): 11:35am On Jul 30, 2015 |
The Governor of Zamfara State, Abdualziz Yari, has said that some banks have seized the $2.1 billion dividend paid into the Federation Account by the Nigeria Liquefied Natural Gas Company (NLNG), which the Federal Government used to bail out debtor- states. The fund was part of the presidential palliative as intervention package to help bankrupt states settle salary arrears. Yari, who again met with Vice President, Prof Yemi Osinbajo (SAN) that no other bail-out aside the NLNG has been released to states, but that some states had theirs seized because they were lagging behind in their loans repayment. Yari, who is also the Chairman of the All Progressives Congress (APC) Governors Forum, said, “what I am saying, no money has been released yet, but I think the NLNG money that was given, some states, their shares were taken by the banks because of debts. So, automatically, that has to go there. “But I think the Central Bank of Nigeria (CBN) governor is negotiating with the banks on how we are going to share, now we have agreed that this bailout or intervention funds are coming so that they will know the purpose the palliative was made for the states to rescue them to pay staff salaries. “But for sure, some other governors reported that money went to their accounts, it was taken by some banks because of their outstanding loans”, he said. Yari also blamed the media for demonizing some governors over their distressed situation, saying if the banking sector and the downstream sector got bail-outs, there was nothing wrong if states in distress are also assisted out. He said: “The Federal Government wants to give bailout to states because of the situation but the way you guys (the media) are talking about it. Of course, the bailout is in the works and the bailout can be made either to the states or to any sector of the economy. “As I have been saying, the bailout has been made in the banking sector and bailout has also been made in the downstream sector of the economy.
|
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by Milliprime: 11:36am On Jul 30, 2015 |
Seriously |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by maverickdude(m): 11:38am On Jul 30, 2015 |
Ur problem,sa dnt ask for 2nd bail |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by codedguy1(m): 11:51am On Jul 30, 2015 |
Naija is just a wonderful country! I actually don't blame the banks. Until we practice true federalism/regionalism we will continue to go round in circle. As long as we are tuned to believed there is a pool of money where anyone (states in this case) can just scoop money to resolve issues, the gov will continue to borrow and run the states anyhow. Till we create revenue making projects and acknowledge what belongs to who it will be difficult to sort out ourselves. 4 Likes |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by onomeasike: 12:03pm On Jul 30, 2015 |
And some of the governors who created this mess are in the Senate. God will punish anyone who says Buhari should not probe GEJ's tenure. 1 Like |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by onomeasike: 12:04pm On Jul 30, 2015 |
And some of the governors who created this mess are in the Senate. God will punish anyone who says Buhari should not probe past state governors and GEJ's tenure. 1 Like |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by omowolewa: 12:30pm On Jul 30, 2015 |
Smart banks, do you want kill the banks? Just of recent there was mass sack in the construction companies, Banks are not moving on well, declaring loss or low dividend, White-Elephant projects dot the landscape of our country at the expense of the construction companies who fund the projects by bank loans. Yet politicians wont let the banks be, they obtain loans for various white elephant projects which would never see the light of their handover dates. The last election was the costliest in this nation, that one of the reasons we keep detecting looted funds day-in-day-out like Avast antivirus. Was it that the civil servants are not productive enough to generate incomes that covers their salaries or the governors doesn't have a good budget for recurrent expenditure? My advise is for these governors is to revolve the loan (if(5+(-5)=0, then revolve -5 )). Or we should start bankruptcy proceedings against them. 3 Likes |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by natas22: 12:34pm On Jul 30, 2015 |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by PPAngel(f): 12:37pm On Jul 30, 2015 |
[size=78pt]Oliver[/size] |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by chemmerfrank(m): 12:38pm On Jul 30, 2015 |
Ok |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by sammyj: 1:04pm On Jul 30, 2015 |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by PPAngel(f): 1:18pm On Jul 30, 2015 |
The folly of this administration is just beginning This bailout was a total waste [img]http://paulboyden.files./2009/12/img_4017.jpg[/img] a hole in the water so to speak 1 Like |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by Nobody: 1:29pm On Jul 30, 2015 |
Hmmmm, like seriously, this is what I call, Serious Magana |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by OAMMB(f): 1:31pm On Jul 30, 2015 |
codedguy1:seconded |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by kutchs: 1:32pm On Jul 30, 2015 |
onomeasike:Who are these governors you talk about? |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by dulaman: 1:34pm On Jul 30, 2015 |
But you said FG did not bail you out? |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by bjdon: 1:40pm On Jul 30, 2015 |
This just just goes to show what happens when a country is run by illiterates. it's totally crazy to give a bail out to the states without conditions. Did the FG do any due diligence on the states finances? How can you release funds to a state, where the bank already has first call on the states monies, of course the bank will first take their share. If proper due diligence had been done, then the where a state is owing banks, the FG should have negotiated a debt restructuring package with the banks, and the FG would take over the responsibility of the debt, ensuring an agreed deduction from the states monthly allocation to service the debts. There would also need to be an agreement in place prohibiting the stare from incurring further debts, as well as forcing the state to undertake cost cutting and revenue generation exercise. But of course this is Nigeria, where people just eat pounded yam, go to sleep, and wake the next day and announce whatever policy they want, with no proper analysis or planning. Bloody zoo of a country. 2 Likes |
Re: Banks Have Seized State Bailout Funds Over Debts - Gov Yari by PPAngel(f): 2:46pm On Jul 30, 2015 |
dulaman: Change mouth government |
(1) (Reply)
I’ll Fight Corruption More In 2019 If Elected – Jonathan - / EXPOSED: Joe Igbokwe, The Most Wanted By Bakassi Men 1999-2002 (must Read) / FACTS!! Igbos Re Nigeria's Political Slaves (history From 1-4th Republic)
(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. 32 |