Non-release of Funds Frustrating Our Plans — Bayelsa

the Sovereign Wealth Funds (SWFs)
  • Non-release of Funds Frustrating Our Plans

The Bayelsa State Government has said that the non-release of the London-Paris Club refunds by the Federal Government is frustrating its plans to clear backlog of workers’ salaries and other debts.

The Commissioner for Information and Orientation, Mr. Jonathan Obuebite, disclosed this in a telephone interview with our correspondent on Monday.

Obuebite said, “Already, the government has taken a decision on how to expend the money. When the first one came, we used it to clear some months of salary arrears. We want to use this one for the same purpose but it has not yet come.

“As a state, we are worried that the money has yet to come. Already, labour leaders in the state are aware of the decision of the state government to spend that money to clear some of the salary arrears we are owing, which they hold the government in trust.’’

He clarified that Bayelsa was not among the states that allegedly diverted the first tranche of the funds, noting that the state government even received a pat on the back for its judicious spending of the money.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years experience as a foreign exchange research analyst and trader.

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