Governors plead with FG to postpone $2.1bn support repayment, CBN kicks against their plea

State Governors on Thursday at the monthly meeting of the National Economic Council (NEC) appealed to the Federal Government to postpone the repayment of the $2.1bn budget support facility to states which was scheduled to resume in May.

But the Governor of the Central Bank of Nigeria, Godwin Emefiele, kicked against the appeal and enumerated the technical challenges involved, should there be a further postponement of the deductions. The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed these in a statement issued at the end of the council’s meeting presided over by Vice-President Yemi Osinbajo. Akande said the Vice President thereafter directed that a meeting be held where the issue would be properly considered and a decision reached.

Read more details at Punch

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