Thursday, August 27, 2015

Central Bank Begins Disbursement Of Funds To States To Clear Salary Arrears Owed To Workers!

CBN Governor, Godwin Emefiele
The request by Deposit Money Banks (DMBs) to provide financial accommodation to State Governments to enable them pay the backlog of salaries of their workers has been approved by the Central Bank of Nigeria (CBN).

This follows the decision by the National Executive Council (NEC) at it's meeting of 29th June, 2015 requesting the Central Bank of Nigeria, in collaboration with other stakeholders to apprise and consider ways of bailing out states owing workers salaries. 

Resolutions of the State Executive Council authorizing the borrowing and State House of Assembly consenting to the loan package, as well as issuance of Irrevocable Standing Payment Order (ISPO) to ensure timely repayment are conditions for accessing the loan facility.

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6 comments:

  1. UnknownAugust 27, 2015 at 5:39 AM

    Finally! Workers will heave a sigh of relief. Have you heard the New Nigerian Anthem? Anticipate #PromiseLand.

    ReplyDelete
  2. OlovoAugust 27, 2015 at 5:48 AM

    That means fayose was right when he said the money has not been given to them....mbok it should not b giving directly to aregbesiola oh....

    ReplyDelete
  3. UnknownAugust 27, 2015 at 5:51 AM

    That's nice..although my state doesn't owe any worker

    ReplyDelete
  4. UnknownAugust 27, 2015 at 7:02 AM

    Nice one

    ReplyDelete
  5. UnknownAugust 27, 2015 at 7:02 AM

    Huh....huge relief on government workers

    ReplyDelete
  6. UnknownAugust 27, 2015 at 7:26 AM

    Ok good

    ReplyDelete

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