USA Africa Dialogue Series - Re: Adeosun clarifies Paris Club refunds { Re: FG To Disburse N500bn Paris Club Refund This Week {{Re: : Track your governor o!



     First Tranche:  N388 bllion  (distributed December 2016)
Second Tranche: N500 billion (upcoming - March/April 2017)
 Total in Dollars to be Distributed:  US$6,825,721,931.38
Exchange rate being used:  ????


TABLE OF PARIS CLUB REFUNDS IN NIGERIA

(to be updated as more comprehensive data become available)

 

State

Paris Club Refund

TOTAL US Dollars

Paris Club Refund

Tranche 1

December 2016

Billion Naira

Comment

Paris Club Refund

Tranche 2

March 2017

Billion Naira

Comment

1

Rivers

 462,593,183.07

14.5

 

??

 

2

Delta

 365,655,143.86

14.5

 

??

 

3

Akwa Ibom

344,122,584.90

 14.5

      

??

 

4

Bayelsa

 329,744,322.49

14.5

 

??

 

5

Kano

287,952,190.23

0

 

??

 

6

Lagos

 223,773,195.58

14.5

 

??

 

7

Kastina

 217,274,991.01

14.5

 

??

 

8

Oyo

 209,314,168.61

 7.2

Due to LG

??

 

9

Kaduna

204,549,118.60

 14.36

 

??

 

10

Borno

194,461,850.74

 13.65

 

??

 

11

Niger

191,014,388.20

 13.4

 

??

 

12

Jigawa

 188,282,561.77

 13.2

 

??

 

13

Ondo

 185,527,107.67

 6.5

 

??

 

14

Imo

 185,451,792.92

 13.02

 

??

 

15

Bauchi

182,192,756.59

 12.79

 

??

 

16

Sokoto

170,625,921.77

 11.98

 

??

 

17

Osun

 167,261,095.11

11.74

 

??

 

18

Anambra

162,163,091.98

 11.38

 

??

 

19

Adamawa

161,968,221.27

 4.8

Due to LG

??

 

20

Edo

 161,354,346.83

 11.33

 

??

 

21

Cross River

 160,936,263.51

 11.3

 

??

 

22

Kogi

159,674,903.18

 11.21

 

??

 

23

Kebbi

158,344,357.37

 11.12

 

??

 

24

Ogun

152,036,415.75

10.6

 

??

 

25

Abia

151,410,816.39

 10.6

 

??

 

26

Plateau

149,512,027.96

 10.4

 

??

 

27

Taraba

 148,662,635.52

 4.2

Due to LG

??

 

28

Zamfara

 144,169,154.81

 10.1

 

??

 

29

Yobe

143,393,460.04

 10.06

 

??

 

30

Enugu

142,034,156.54

 9.9

 

??

 

31

Kwara

135,646,207.00

 9.1

In two tranches N5.4,

and N3.7 billion (due to LG)

??

 

32

Ekiti

 126,432,758.86

 8.8

 

??

 

33

Nasarawa

 120,557,593.92

 8.4

 

??

 

34

Ebonyi

119,419,427.28

 8.3

 

??

 

35

Gombe

118,486,826.45

 8.3

 

??

 

36

Benue

81,580,708.60

 12.75

 

??

 

37

FCT

18,142,185.00

0

 

??

 

 

TOTALS

6,825,721,931.38

387.49  

 

500.00

 



Adeosun clarifies Paris Club refunds

By News Express on 20/03/2017


Minister of Finance, Mrs. Kemi Adeosun, on Monday evening clarified issues pertaining to the Paris Club refunds, assuring the public that "the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments."

She made the clarification in a statement issued in Abuja and signed by her signed Media Adviser, Festus Akanbi.

The statement said: "The Federal Government's disbursement process is transparent and targeted at the attainment of specific economic objectives. The inability of some sub-national governments to meet salary and other obligations was considered inconsonant with the Federal Government's economic stimulus programme. Claims with regard to over deductions had been made to the Federal Government, consistently since 2005.

"The Debt Management Office (DMO) initially requested for a period of 22 months to complete the reconciliation and facilitate disbursement.

"However, President Muhammadu Buhari, considering the plight of salary earners and pensioners and the need to stimulate the economy, directed that the exercise be completed within 12 months.

"In addition, Mr. President gave an express Anticipatory Approval for the release of up to 50% of the claim of each state, pending final reconciliation. That reconciliation is undertaken by the DMO, Office of the Accountant General of the Federation (OAGF) and the relevant State Governments. Accordingly, the disbursements are staggered in batches and payments are only made when the claims of each state have been reconciled with the facts at the disposal of the Federal Government.

"Specifically, information was available that some states had been paid either in full or in part, under previous administrations. This necessitated a more detailed review, for the states in question.

"The release of the first tranche, representing up to 25% of claims, being N522.7bn commenced in December 2016. Disbursement was subject to an agreement by State Governments that 50% of any amount received would be earmarked for the payment of salaries and pensions. In addition, each Governor gave an undertaking that excess payments would be recovered from the Federal Accounts Allocation (FAAC), if the final reconciliation found that the amount paid under the Anticipatory Approval exceeded that due.

"It is standard practice in the Ministry of Finance to undertake independent monitoring of compliance with the terms and conditions of funds released. This will be conducted in due course.

"To date, nine batches have been processed while some balances remain outstanding to the possible credit of a number of states. Given the foregoing, complete and final figures can only be released and published after each state and the Federal Government have reconciled and agreed on the sums due.

"At the National Economic Council meeting on Thursday March 16, 2017, President Muhammadu Buhari instructed the Minister of Finance and Central Bank Governor to commence the process of resolving the balance of the approved amount. The overriding consideration for any further releases will be the current and projected cash flows of the Federation as well as the outcome of the independent monitoring of the compliance with terms and conditions attached to the previous releases.

"The Minister of Finance would like to reaffirm the commitment of the administration to publish all relevant information on the Paris Club refunds."


-----------


FG To Disburse N500bn Paris Club Refund This Week

FG To Disburse N500bn Paris Club Refund This Week

The disbursement of the N500bn London-Paris Club loan refund to states by the Federal Ministry of Finance is to commence next week,  investigations have revealed.

Top government officials confided in our correspondent that the Minister of Finance,  Mrs. Kemi Adeosun and the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, would meet anytime soon over the modalities for the disbursement of the funds.

The official said, "We have received the President's directive which was issued last week and we have already started working on the release of the funds but of course you know there are processes to be followed which is what we are doing now.

"The minister will have to meet with the CBN governor to discuss the modalities for the release of the funds to the respective states and that will be done anytime from now.

"It is after that meeting that a payment mandate will be issued for the monies to be credited to the respective accounts of the state.

"All these processes usually take between two and five working days depending on the circumstances. So by this week,  the states will start getting the money barring any last minute change in plans."

It was gathered that the meeting between the governor and the finance minister was imperative in order to review the states that have met the criteria for the disbursement of the funds.

One of the criteria is that a minimum of about 50 per cent of the funds would be devoted to the payment of salaries and pension, in line with government's plan to stimulate consumer demand.

It was also learnt that the funds would be credited to an auditable account from which payments to individual creditors would be made and that such payments would be made to Bank Verification Number-linked accounts that could be verifiable.

The Director of Information in the Federal Ministry of Finance, Mr. Salisu Dambatta, could not be reached for comments as text messages and calls sent to him were not responded to.

He, however, sent a text message that he was in a meeting when the calls became persistent.

A text message sent to him over the issue had yet to be responded to as of 4.30pm.

President Muhammadu Buhari had on Thursday directed that the amount be released by the finance minister to the states to enable them to meet pressing financial obligations such as the payment of salaries and pension arrears.

He said the presidential order should be carried out "appropriately and with dispatch."

Buhari, who had earlier released the first tranche of N388bn to the state governments in December 2016, said the latest release was meant to ease their financial hardship.

YNAIJA


The Federal Government has effected the payment of about N388.3 billion to 35 states as refund of the Paris Club loan over deductions.

This action is in line with helping states fulfil their financial obligations due to the economic recession.

This figure is different from the budget support facility the states have received on a regular basis since 2016, from the Federal Government.

 According to statistics released by the Federal Accounts Allocation Committee (FAAC) as at December 27, 2016, 35 states have been paid a total of N388, 304, 379, 072.96.

Additional information released by FAAC indicates that Ondo state is to receive 50% of the refund due to the transition of leadership while further instruction is being awaited on the balance of payment.

The information also indicates that Adamawa, Oyo and Taraba states, and the second tranche of payment to Kwara, represent the portions due to the respective local governments.

A breakdown of the payment shows that Abia, Adamawa, Akwa Ibom, Anambra and Bauchi states got N10.6 billion, N4.8 billion, N14.5 billion, N11.3 billion and N12.7 billion respectively.

In the same vein, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi and Edo states were paid N14.5 billion, N12.7 billion, N13.6 billion, N11.3 billion, N14.5 billion, N8.3 billion and N11.3 billion respectively.

According to the FAAC document, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna, Katsina, Kebbi and Kogi states got N8.8 billion, N9.9 billion, N8.3 billion, N13.02 billion, N13.2 billion, N14.3 billion, N14.5 billion, N11.1 billion and N11.2 billion respectively, from the Federal Government.

As already stated, Kwara state got payments in two tranches tagged on the FAAC document as Kwara 22a and Kwara 22b. The figure for Kwara 22a as contained on the document is N5.4 billion while Kwara 22b is N3.7 billion.

The breakdown shows that Lagos state got N14.5 billion, Nasarawa N8.4 billion, Niger N13.4 billion, Ogun N10.6 billion, Ondo N6.5 billion and Osun N11.7 billion while Oyo state got N7.2 billion.

In the other disbursements, Plateau, Rivers, Sokoto, Taraba, Yobe and Zamfara states got N10.4 billion, N14.5 billion, N11.9 billion, N4.2 billion, N10.06 billion and N10.1 billion respectively.


THE NATION

N388.3bn refunds: Rivers, Delta, Katsina, Lagos top list of gainers

to 35 states as refunds of over-deductions on London-Paris Club loans.

Topping the list of states with the hugest reimbursements are states controlled by the opposition Peoples Democratic Party (PDP), contrary to their claims that they were being financially oppressed by the administration of President Muhammadu Buhari.

The biggest earners include Akwa Ibom, Bayelsa, Rivers, Delta, Katsina, Kaduna, Lagos, Imo, Jigawa, Borno, Niger, Bauchi and Benue states.

But the reimbursement profile has shown that some governors fed their states with wrong figures of the sums given to them.

The refund has however landed Governor Ayodele Fayose in fresh trouble with the Federal Government after it was found that he collected N8.877 billion but could only pay one month out of the eight-month salary arrears he owed workers in the state.

Fayose was also said to have paid a curious 13th month salary as bonus while the arrears of seven-month salaries owed the workers were left unpaid.

Investigation conducted by our correspondent revealed that 35 of the 36 states benefitted from the refunds of N388.304 billion.

Although most of the governors have begged the Minister of Finance, Mrs. Kemi Adeosun, not to make the list of reimbursements public, The Nation was able to source the breakdown of the reimbursements exclusively.

The document indicated that all the 35 states were credited with their shares of the N388.304 billion as at December 27, 2016.

Our correspondent obtained the names of the bank, the account and the account numbers where each state's share was remitted.

Only Kano State and the FCT have so far not benefitted from the reimbursements.

According to the list, Kwara State got two types of refund totaling more than N9.188 billion.

Kwara's shares include N5,415,167,236.97 refund to the state government and N3,773,082,953.54 for its 16 local government areas.

Findings also confirmed that Ondo was only paid 50 per cent of its refunds (N6,513,392,932.28) because of leadership change in the state, which will soon lead to the inauguration of Chief Rotimi Akeredolu as the new governor.

A breakdown of the list of top beneficiaries of the refunds is as follows: Akwa Ibom, N14,500,000,000.00;  Bayelsa, N14,500,000,000.00;  Delta, N14,500,000,000.00; Kastina, N14,500,000,000.00; Lagos, N14,500,000,000.00;  Rivers, N14,500,000,000.00; Kaduna, N14,362,416,363.24; Borno, N13,654,138,849.49; Bauchi, N12,792,664,403.93; Benue, N12,749,689,453.61; Sokoto, N11,980,499,096.97; Osun, N11,744,237,793.56; Anambra, N11,386,281,466.35; Edo, N11,329,495,462.04; Cross River, N11,300,139,741.28; Kogi, N11,211,573,328.19 and Kebbi, N11,118,149,054.10.

The document said: "Ondo payment represents 50 per cent of the refund due to transition of leadership in the state. Further instructions are being awaited on balance payment.

"Adamawa, Kwara 22b on the list, Oyo and Taraba payments represent the portions due to the respective local governments."

But the Presidency was uncomfortable with the attitude of some state governors to the management of the refunds.

A reliable source in the Presidency, who spoke in confidence, said: "President Muhammadu Buhari has lived up to his pledge to ease salary crises in all the states by releasing N388.304 billion to 35 states.

"The agreement between the Federal Government and the state governors was very clear. While 50 per cent of the amount released shall be used to offset outstanding salary and pension arrears, the remaining 50 per cent would be used for the payment of other obligations.

"Some governors have however reneged on this agreement. Security reports available to the presidency showed that Governor Ayodele Fayose paid only one month out of eight-month salary arrears.

"The same governor went ahead to pay a curious 13-month salary to Ekiti workers. Yet, he got N8.877 billion refund.

"Instead of accounting for what he used the loan refund for, he has the temerity to attack the Federal Government on hardship in the country.

"The relevant agencies are monitoring development in Ekiti and some states."

Reacting to the allegation on the telephone yesterday, Ekiti State Commissioner for Finance, Toyin Ojo, confirmed that the state got N8.8 billion from the Paris Club refunds.

But he said that the state's share of the money was only N5.3 billion, which he said could barely pay one month out of the arrears of salaries owed the civil servants in the state.

According to him, the wage bill for a month stands at N5.2 billion.

He also said that workers in the local government sector could only get one month from the arrears of salaries owed them.

Responding to a question, another source in government said: "It is unfortunate that some state governors under-declared the refunds made to them.

"Some of them were also discovered to be giving spurious analysis in order to cover up the actual figures.

"In fact, some states changed the agreement overnight.

"A state said the President asked states to use at least 25 per cent of their London and Paris Club refund to offset salary arrears."

Investigation showed that about N134.44 billion out of the approved N522.74 billion will soon be paid as refunds to some states.

The top government source added: "Yes, as at December 27, 2016, all the 35 states had received the N388.3 billion refunds. The balance of N134.44 billion will soon be accessed."

Following protests by states against over-deductions for external debt service between 1995 and 2002, President Muhammed Buhari had on December 2, 2016 approved the release of N522.74 billion to states as refunds pending reconciliation of records.

Each state is entitled to a cap of N14.5 billion being 25 per cent of the amounts claimed.

But the government has raised a team to scrutinise claims by states and reconcile with available records.

These developments were contained in a statement issued in Abuja by the Special Adviser on Media to the Minister of Finance, Mr. Festus Akanbi.

The statement said: "The Federal Government has reached a conditional agreement to pay 25% of the amounts claimed subject to a cap of N14.5 billion to any given state. Balances due thereafter will be revisited when fiscal conditions improve.

"Mr. President's overriding concern is for the welfare of the Nigerian people, considering the fact that many states are owing salaries and pension, causing considerable hardship.

"Therefore, to ensure compliance with the directive that a minimum of 50% of any amount disbursed is dedicated to this, funds will be credited to an auditable account from which payments to individual creditors would be made. Where possible, such payments would be made to BVN linked accounts and verified."

But any state paid refunds in excess of its outstanding claims might suffer deduction from its monthly allocations from the Federation Account.

It said: "Due to the fact that reconciliation is still ongoing and the final outcome might show an under or overstatement of claims, an undertaken has been signed by state governors, declaring that in the event the amount already paid exceeds the verified claim, the surplus would be deducted directly from the state's monthly FAAC allocations.

"The total amount approved by the President is N522.74 billion and is to be paid in batches. The first batch of N153.01 billion is currently being processed for release to 14 state governments.

"The release of these funds is intended to support the fiscal stimulus programme of the President Muhammadu Buhari-led administration to provide direct stimulus through government spending. It is particularly aimed at boosting demand at consumer level and reversing the slowdown in economic activity."





-----Original Message-----
From: Mobolaji Aluko <alukome@gmail.com>
To: africanworldforum <africanworldforum@googlegroups.com>; naijaintellects <naijaintellects@googlegroups.com>
Cc: Vin Otuonye <vincentotuonye@msn.com>; Okonkwonetworks <okonkwonetworks@googlegroups.com>; NIgerianWorldForum@yahoogroups.com <nigerianworldforum@yahoogroups.com>; Politics Naija <naijapolitics@yahoogroups.com>; IGBO WORLD FORUM IGBO WORLD FORUM <igboworldforum@yahoogroups.com>; OBSERVE YOURSELF <naijaobserver@yahoogroups.com>; Ike Agbor <ikeagbor@yahoo.com>; Ebohon <ebohon@dmu.ac.uk>; Roth Fash <rotfash@yahoo.com>; Ishola Williams <isholawilliams@gmail.com>; Abba <abba2007@gmail.com>; Michael Adeniyi <mgadeniyi@aol.com>
Sent: Mon, Mar 20, 2017 6:00 pm
Subject: [Naijaintellects] Re: [africanworldforum] Re: Track your governor o!


Yes, follow the money:



 
S/N
State
Paris Club Refund
(highest to lowest)
US Dollars

1
 Rivers
 462,593,183.07
2
 Delta
 365,655,143.86
3
 Akwa Ibom
 344,122,584.90
4
 Bayelsa
 329,744,322.49
5
 Kano
 287,952,190.23
6
 Lagos
 223,773,195.58
7
 Katsina
 217,274,991.01
8
 Oyo
 209,314,168.61
9
 Kaduna
 204,549,118.60
10
 Borno
 194,461,850.74
11
 Niger
 191,014,388.20
12
 Jigawa
 188,282,561.77
13
 Ondo
 185,527,107.67
14
 Imo
 185,451,792.92
15
 Bauchi
 182,192,756.59
16
 Sokoto
 170,625,921.77
17
 Osun
 167,261,095.11
18
 Anambra
 162,163,091.98
19
 Adamawa
 161,968,221.27
20
 Edo
 161,354,346.83
21
 Cross River
 160,936,263.51
22
 Kogi
 159,674,903.18
23
 Kebbi
 158,344,357.37
24
 Ogun
 152,036,415.75
25
 Abia
 151,410,816.39
26
 Plateau
 149,512,027.96
27
 Taraba
 148,662,635.52
28
 Zamfara
 144,169,154.81
29
 Yobe
 143,393,460.04
30
 Enugu
 142,034,156.54
31
 Kwara
 135,646,207.00
32
 Ekiti
 126,432,758.86
33
 Nasarawa
 120,557,593.92
34
 Ebonyi
 119,419,427.28
35
 Gombe
 118,486,826.45
36
 Benue
 81,580,708.60
37
 FCT
 18,142,185.00
 
 
 6,825,721,931.38

  

From: Joe Attueyi <topcrestt@yahoo.com>
Sent: Monday, March 20, 2017 2:52:34 PM
To: Okonkwonetworks; NIgerianWorldForum@yahoogroups.com; NaijaPolitics@yahoogroups.com; IGBO WORLD FORUM IGBO WORLD FORUM; NaijaObserver@yahoogroups.com; africanworldforum@googlegroups.com; Ike Agbor; ebohon@dmu.ac.uk; rotfash@yahoo.com; Ishola Williams; Abba; Michael Adeniyi; vincentotuonye@msn.com
Subject: Track your governor o!
 

Follow the money.
Below is the breakdown of the $6.9billion Paris Club Refund to 36 States, FCT
Follow-up on your governor to ensure the utilization of this fund. Don't sit at the fence.
1. Abia - $151, 410, 816.39
2. Adamawa - $161, 968, 221.27
3. Akwa Ibom - $344, 122,584.90
4. Anambra - $162, 163, 091.98)
5. Bauchi - $182, 192, 756.59
6. Bayelsa - $329, 744, 322.49
7. Benue - $81, 580, 708.60
8. Borno - $194, 461, 850.74
9. Cross River - $160, 936, 263.51
10. Delta - $365, 655, 143.86
11. Ebonyi - $119, 419,427.28
12. Edo - $161, 354, 346, .83
13. Ekiti - $126, 432, 758.86
14. Enugu - $142, 034, 156.54
15. Gombe - $118,486,826.45
16. Imo - $185, 451, 792. 92
17. Jigawa - $188, 282, 561.77
18. Kaduna - $204, 549, 118.60
19. Kano - $287, 952, 190.23
20. Katsina - $217, 274, 991.01
21. Kebbi - $158,344,357.37
22. Kogi - $159, 674,903.18
23. Kwara - $135, 646, 207
24. Lagos - $223, 773, 195.58
25. Nasarawa - $120, 557, 593.92
26. Niger - $191, 014, 388.20
27. Ogun - $152, 036, 415.75
28. Ondo - $185, 527, 107.67
29. Osun - $167, 261, 095.11
30. Oyo - $209, 314, 168. 61
31. Plateau - $149, 512, 027.96
32. Rivers - $462, 593, 183.07
33. Sokoto - $170, 625, 921.77
34. Taraba - $148, 662,635.52
35. Yobe - $143, 393,460. 04
36. Zamfara - $144, 169, 154. 81
37. FCT - $18, 142, 185

Johnson Andrew

Sent from my iPhone
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