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Tuesday, March 21, 2017

Paris Club refund disbursement, transparent – Adeosun

The Minister of Finance, Mrs. Kemi Adeosun, has reiterated that disbursement of the Paris Club refunds is transparent, reports ITRealms.

Clarifying the seeming misunderstanding on the disbursement pertain, Adeosun, 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.

“The Federal Government's disbursement process is transparent and targeted at the attainment of specific  economic objectives. The inability of some sub-national governments to meet salary and other obligations was considered inconsonant with the Federal Government’s economic stimulus programme.   Claims with regard to over deductions had been made to the Federal Government, consistently since 2005,” she said.

According to her, the Debt Management Office (DMO) initially requested for a period of 22 months to complete the reconciliation and facilitate disbursement.

She also said that however, President Muhammadu Buhari, considering the plight of salary earners and pensioners and the need to stimulate the economy, directed that the exercise be completed within 12 months.

The media adviser to Ministry of Finance, Mr. Festus Akanbi in a press statement made available to ITRealms, quoted Mrs. Adeosun as saying that Mr. President, Muhammadu Buhari, gave an express Anticipatory Approval for the release of  up to 50 per cent of the claim of each state, pending  final reconciliation.

“That reconciliation is undertaken by the DMO, Office of the Accountant General of the Federation (OAGF) and the relevant State Governments. Accordingly, the disbursements are staggered in batches and payments are only made when the claims of each state have been reconciled with the facts at the disposal of the Federal Government,” she said.


ITRealms recalls that specifically, information was available that some states had been paid either in full or in part, under previous administrations, which necessitated a more detailed review, for the states in question.

Ayo Midele/GEE
ITREALMS ... everything news digitally!

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