We’re Ready To Pay N614bn Loan- Fayemi Tells FG

– Governor of Ekiti state,Dr.kayode Fayemi said that the Governors from 35 states were ready to pay back loans

– We are never averse to payment of loans under legal environment

– The Governors believe that we are ready to pay

 

The Chairman of the Nigeria Governors’ Forum and Governor of Ekiti State, Dr Kayode Fayemi has assured the Federal Government that the governors were ready to refund what their various states were owing it.

Fayemi made the announcement while reading the communiqué of the forum meeting held on Wednesday night in Abuja.

The Ekiti Governor was reacting to the Federal Government’s resolution to recover N614 billion loan facility from 35 states of the federation.

According to him, “If you borrow, you pay. We are never averse to payment of loans under legal environment and we don’t want a situation that will put our financial system in jeopardy.

“However, The Governors believe that we are ready to pay, we also have a duty to ensure a reconciliation of account as far as moneys owed to states may be concerned.”

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“It is a storm in a tea cup when we read about Governors refusing to pay. We don’t have such an issue, we are ready to pay,”he stated.

Meanwhile, The Minister of Finance, Budget and National Planning Zainab Ahmed had earlier said that the Federal Government had resolved to recover N614 billion loan facility from 35 states of the federation.

Mrs Ahmed said that each of the affected 35 states received N17.5 billion as bail out from the federal government.

She said that the Federal executive council had already agreed to form a team to finalise modalities for commencement of repayment of the loan facility.