Benue Gets N12.7b Paris, London Clubs Refund

benue-state-governor-samuel-ortomBenue State Governor, Samuel Ortom
  • Benue Gets N12.7b Paris, London Clubs Refund

Benue State Governor, Samuel Ortom has disclosed that about N12.7billion has hit the state account as refund from Paris and London Clubs.

Ortom made the disclosure yesterday, at the Benue People’s House in Makurdi, while fielding questions from journalists.He explained that the amount was 25 per cent of $181 million, the total amount owed the state as refund, revealing that local governments would take 45 per cent while the state would utilize the remaining 55 per cent.

Ortom insisted that his government would comply with President Buhari’s directive to use half of the money to offset salary arrears of civil servants and local governments workers.

He explained further that the President had approved that 50 per cent of the total amount be paid but that the Federal Ministry of Finance and the Central Bank were able to pay only 25 per cent at the official exchange rate.

Ortom described the information peddled by opposition elements that the state had received over N90 billion as false.On the appointment of the next paramount ruler for Tiv nation, the governor reiterated his pledge not to interfere with the selection.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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