Finance Minister Kemi Adeosun

BY COBHAM NSA, ABUJA – Minister of Finance, Mrs. Kemi Adeosun on Monday insisted that the Federal Government has consistently complied with all extant rules and regulations in the disbursement of the Paris Club refunds to State Governments.
This is even as she assured of a transparent disbursement process targeted at attaining specific economic objectives of the present administration.
According to the Minister, the Federal Government is piqued by the inability of some sub-national governments to meet salary and other obligations, a development that stands against current efforts at economic stimulus programme in the country.
The Finance Minister, who spoke through her media Adviser, Festus Akanbi, said touched by the plights of salary earners and pensioners and the need to stimulate the economy, President Muhammadu Buhari directed that the reconciliation exercise be completed within 12 months as against the initial 22 months period requested by the Debt Management Office (DMO) to complete the exercise and facilitate disbursement to the states.
She said given that the claims with regard to over deductions had been made by the States to the Federal Government, consistently since 2005, the President had to give an express Anticipatory Approval for the release of up to 50% of the claim of each state, pending final reconciliation.
Mrs Adeosun said the reconciliation, undertaken by the DMO, Office of the Accountant General of the Federation (OAGF) and the relevant State Governments has so far seen the disbursements staggered in batches with payments 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”, she said

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