Paris Club Refund: Cross River Gets Final Tranche

In Breaking News, Business & Economy, National News

By Jonathan Ugbal

Information made available to CrossRiverWatch from the Federal Ministry of Finance, shows that Cross River State has received the final tranche of the Paris Club refund since March 2019.

The refunds are for the over deductions made over a period of seven years and Finance Minister, Mrs Zainab Ahmed, in a recent briefing in Abuja said the sums for each of the 36 States have been verified by the Ministry as the outstanding balance.

It is unclear exactly what Cross River got, but, Mrs. Ahmed had said the total sum to be disbursed in the final tranche is NGN649.43.

“For the final phase of the Paris Club debts refunds, the total sum of N649.434bn was verified by the Ministry as the outstanding balance to be refunded to the state governments.

“The payments made by the Central Bank of Nigeria as of March 2019 is N691.56bn. The increase in CBN payments partly arose from the exchange rate differential at the point of payment. Although some states still have outstanding balances, they will be refunded in due course,” the Punch quoted her as saying.

NB: The Headline as well as para three and four have been edited to reflect most recent developments.

Since You Are Here, Support Good Journalism


CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.

CLICK HERE

New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here


Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today

You may also read!

Cross River: Glo Deploys 4G-LTE Bandwidth To More LGAs

By Jonathan Ugbal Telecommunications giant, Globacom Nigeria has launched fourth generation long term evolution (4G-LTE) in new Local Government

Read More...

Police Rescue Kidnapped Victim In Calabar

By CrossRiverWatch Admin Policemen attached to Operation Akpakwu, a joint task force of the Cross River State government have

Read More...

The Book Of Cross River: Chapter 1, Verse 1 – 10 BY AGBA JALINGO

1. The vision of Bengioshuye, the son of Ngayi, which he saw concerning River Cross, before he was formed

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now