The House of Representatives on Wednesday approved a request by President Muhammadu Buhari for the refund of N148.14 billion to five states in the country.
The House gave the approval during plenary, in concurrence to an earlier approval granted on Tuesday by the Senate for a refund of money spent on projects by the states on behalf of the Federal Government.
The House gave the approval after the considereation and adoption of the report by the Committee on Aids, Loans and Debt Management on the “Promissory notes programme and bond issuance as refund to Rivers, Bayelsa, Cross River, Osun and Ondo states governments for projects executed on behalf of the Federal Government.”
According to the report, the promissory notes programme and bond issuance was to settle outstanding claims and liabilities of the five states.
The beneficiary states are Bayelsa N38.4bn; Cross River, N18.39bn; Ondo, N7,82bn; Osun, N4.56bn; and Rivers, N78.95bn.
(Ripples Nigeria)
