Tuesday, 7 July 2015

Money Rain: Buhari approves another N1.2 trillion


This is really "Money rain" 

Pres. Buhari on Monday approved multiple intervention packages totalling N1.2 trillion to help bankrupt states pay workers owed for several months.

At least 12 of the 36 states of the federation are believed to be owning their workers over N110billion in salaries and allowances. States like Osun, Rivers, Oyo, Ekiti, Kwara, Kogi, Ondo, Plateau, Benue, and Bauchi states and from calculations the outstanding public workers' pay amounts to N250 billion. 

The differential takes care of federal workers also owed for months. 

On Monday, Pres. Buhari also approved, first, the sharing between the federal and 36 states governments, of $1.7billion of the $2billion balance in the Excess Crude Account which is about N402 billion - $.3billion remaining in the account which was created to help the two tiers of government save for raining days.

Besides the Excess Crude Account, government sources that the president also approved another three-pronged relief package to end workers’ plight.

Hmm! Hope the money goes where it is  supposed to be distributed. 

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