Thursday 16 May 2019

Paris Club Outstanding Debt: FG to disburse N649.434 billion to States

State governments will soon smile to the banks as the federal government has concluded plans to commence the final phase of the Paris Club debt refunds.

Addressing journalists in Abuja on Thursday on the state of the economy, Minister of Finance Zainab Ahmed disclosed: “The total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be refunded to the State Governments.”

She also revealed the payments made by the Central Bank of Nigeria as at March 2019 stands at N691.560 billion.

Ahmed, while not divulging the status of the states with regards to the Paris Club disbursements noted “some states still have outstanding balances, which will be refunded, in due course.”

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