Accordingly, my administration is desirous of providing massive infrastructural development across the State as well as payment of 'Outstanding Gratuities' to Retirees. Despite the above beautiful desires of the Government, we are faced with financial constraints against meeting up with my administration's Strategic Five Finger Development Agenda.
Consequently, the Executive Council resolved to access loan facilities to the total tune of Two Hundred and Six Billion, Seven Hundred and Seventy-Six Million naira (N206,776,000,000) naira only from the following four (4) financial institutions as follows:
(1) Zenith Bank Plc: N83.3 Billion
(ii) UBA Plc: N50 Billion
(iii) Fidelity Bank Plc: N50 Billion
(iv) Key Stone Bank Plc N23.476 Billion
The Security of the facility from Zenith Bank Plc shall be deductions from FAAC, Security for the facility from UBA Plc shall be deductions from JAAC, while Security for the facility from Fidelity Bank shall be deductions from VAT and the Security for the facility from Key Stone Bank shall be deductions from IGR.
The interest rate for the facilities shall be 18% with administrative charges at 5% deductible upfront. The tenor of the facilities is four (4) years and funds shall be channeled to develop the following critical sectors of the State, viz
(i) Education: N50 Billion
(ii) Agriculture: N30 Billion
(iii) Health: N30 Billion
(iv) Security: N30 Billion
(V) Infrastructural Development: N40 Billion
(vi) Micro-Finance Bank: N5 Billion
(vii) House of Assembly: N5 Billion
(viii) Judiciary: N5 Billion
(ix) Women Affairs: N2 Billion
(X) Digital Economy: N2 Billion
(Xi) Waste Management: N2 Billion
(xii) Other Sectors: N5.476 Billion
The House of Assembly however approved that N5 billon from the approved Loan be set aside to settle gratuity and enroll more local government retirees into the State Pension Payroll.
#MovingForward
I love Kyrie but I’m still waiting for an explanation on what makes him more skilled than Steph. Steph is the better scorer, shooter, playmaker, defender, rebounder, off-ball player etc.
Free agent forward Jerami Grant and Klutch Sports CEO Rich Paul have agreed on a five-year, $160 million deal to return to the Portland Trail Blazers, sources tell @TheAthletic@Stadium.
In October 2022, we outlined seven urgent policy actions that will inspire confidence in the BVAS & IReV. The Osun judgement reinforces the imperative for INEC to transmit and publish voter accreditation data on its election results portal
Read more https://t.co/LJVb84ajLX
Naira hidden in people's homes has reduced from ₦2.7 trillion in Oct 2022 to ₦900 billion in Jan 2023.
Naira in people's homes as a percentage of Currency in Circulation:
Oct 2022 — 74%
Jan 2023 — 28%
#StatiSense
(CBN)