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Umar tells Buhari to suspend Paris loan refund

Umar tells Buhari to suspend Paris loan refund
March 21
00:30 2017
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Abubakar Umar, a retired colonel and social critic, has asked President Muhammadu Buhari to reverse the order given to the Central Bank of Nigeria (CBN) and the ministry of finance on another tranche of Paris loan be released to states.

Buhari had appealed to the governors to use the money to pay salaries and improve the lot of the common man.

But Umar said since it had become obvious that some of the state executives had other plans for the money since it was discovered that some governors hired consultants to help them secure the funds.

“It is now revealed that some state governors contracted consultants with fees ranging from 10 to 30 per cent to secure   refund from the federal government of Nigeria FGN,” he said in a statement.

“With this shocking revelation, President Muhammadu Buhari should suspend his order to the  the federal ministry of finance and the Central Bank Of Nigeria, CBN for the release of the second tranche of  the refund.

“It is also evident now that most of the earlier released funds were deployed for other purposes   than payment of salaries and pension arrears as directed by Mr President. This impunity has got to stop.”

The Economic and Financial Crimes Commission (EFCC) had accused some governors of diverting the first tranche.

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Copyright 2017 TheCable. Permission to use quotations from this article is granted subject to appropriate credit being given to www.thecable.ng as the source.
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Exchange Rates

March 22, 2017USDGBPEUR
INTERBANK315393339
LAGOS415530460
KANO430530450
PH410535455
ABUJA405523450
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