WOODPECKER BLOG

Finally, Nigerian govt. releases details of Paris Club refunds to states June 9, 2017 Press Release Minister of Finance, Kemi Adeosun Related News The federal government has finally released a breakdown of the first tranche of Paris Club refunds paid to states to date. The payments, totalling N516.38 billion, were made to the 36 states and the Federal Capital Territory upon the approval of President Muhammadu Buhari on November 21 2016, a statement by Salisu Danbatta, director of information in the Ministry of Finance said. The payments were in partial settlement of longstanding claims by State Governments relating to over-deductions from their Federation Account Allocation Committee (FAAC) allocation for external debt service arising between 1995 and 2002. The debt service deductions are in respect of the Paris Club, London Club and Multilateral debts of the FG and States. While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, s...

PDP Leaders Jubilant as S’Court Silences Sheriff for good PDP Leaders Jubilant as S’Court Silences Sheriff for Good   Makarfi takes over Wadata Plaza, declares no victor, no vanquished after verdict  Jonathan calls on defectors to return Maiduguri residents celebrate ex-governor’s ouster Our Correspondents It was celebration galore for the leadership of the main opposition Peoples Democratic Party (PDP) Wednesday, following the Supreme Court ruling, which upheld the constitution of the Senator Ahmed Makarfi-led Caretaker Committee to lead the party, effectively slamming the door against the former National Chairman of the PDP, Senator Ali Modu-Sheriff. The 14-month battle for the soul of the PDP led to the factionalisation of the party, thousands of defections to the ruling All Progressives Congress (APC), saw the party lose two crucial governorship elections in Edo and Ondo States, and deprived the country of a strong opposition to keep the APC...