The Kwara State government said on Saturday that it has only received N5 billion as its share of the London-Paris Loan Club refund from the federal government.
The Senior Special Assistant to the Governor on Media and Communication, Muideen Akorede in a statement described the reports that it received N9 billion as “outright falsehood.”
The State Commissioner for Finance, Demola Banu said in the statement that the Kwara government was yet to receive the balance of N3.7 billion. He however revealed that the state government is in the process of getting the Federal Ministry of Finance, Abuja, to process and release the remaining fund.
The Commissioner explained that all states were supposed to receive 25 per cent of their claim, which in the case of Kwara State, amounted to about N9 billion, pending final reconciliation.
According to him, only N5 billion of the claim was released to the state, adding that having made a strong case for the balance, the state government was expecting the release of approximately N3.7 billion from the federal government.
The finance commissioner also explained that additional installments of the remaining 75 per cent was also being expected by the once the figures are verified.
While assuring citizens of government’s continued support, Mr. Akorede explained that from the N5 billion earlier received by the state government in November 2016, Mr. Ahmed had directed the release of N1.4 billion to local governments to augment payment of November and December 2016 salaries.