August 31, 2015

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Newspaper of the Year

Buhari’s, Jonathan’s men clash over probe NEWS Page 2

•Ex-ministers defend ex-president

•Nigeria’s widest circulating newspaper

VOL. 10, NO. 3323 MONDAY, AUGUST 31, 2015

APC: PDP’s mess must be cleared

NEWS

Page 8

•PDP kicks as party lists loot

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

•INSIDE: AUDU WINS KOGI APC TICKET P55 CHAMS ‘LOST N9.2B ON NATIONAL ID’ P32

N338b loans for Ekiti, Oyo, Kwara, Ondo, Osun, others CBN-backed cash ready for 27 states to pay workers

C

ASH-STRAPPED workers who are being owed salaries are set to smile again, with the disbursement of the Central Bank of Nigeria (CBN) – backed bailout loans for states. Fourteen banks are disbursing N338 billion “to stimulate the economy”. Kwara and Zamfara have received their loans and have begun the payment of salary arrears to workers. A CBN source confirmed that the other states will get the cash this week. A breakdown of the loans repayable at an interest rate of nine per cent over 20 years is as follows: Abia- N14.152b; Adamawa- N2.378b; Bauchi- N8.60b; Bayelsa – N1.285b; Benue – N28.013b; Borno – N7.680b; Cross River – N7.856b; Delta – N10.036b; Ebonyi – N4.063b; Edo – N3.167b; Ekiti – N9.604b; Enugu – 4.207b; Gombe – N16.459b; Imo – N26.806b; Katsina – N3.304b; Kebbi – N0.690b; Kogi – N50.842b; Kwara – N4.320b; Nasarawa – N8.317b; Niger – N4.306b; Ogun – N20.00b; Ondo – N14.686b; Osun – N34.988b; Oyo – N26.606b; Plateau – N5.357b; Sokoto – N10.093b and Zamfara – N10.020b. The CBN last week announced that it had approved that Deposit Money Banks (DMBs) lend money to requesting states to pay salary arrears owed their workers. Some of the conditions for accessing the loan include: •resolutions of the State Executive Council authorising the borrowing; •State House of Assembly consenting to the loan package; and •issuance of Irrevocable Standing Payment Order (ISPO) to ensure timely repayment. With the signing of the ISPO, “it is clear that the facility is not free as the states’ fi-

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WILL THE CHIBOK GIRLS EVER RETURN?

WHO GETS WHAT •Abia N14.152b •Adamawa N2.378b •Bauchi N8.60b •Bayelsa N1.285b •Benue N28.013b •Borno N7.680b •C/River N7.856b •Delta N10.036b •Ebonyi N4.063b •Edo N3.167b •Ekiti N9.604b •Enugu N4.207b •Gombe N16.459b •Imo N26.806b •Katsina N3.304b •Kebbi N0.690b •Kogi N50.842b •Kwara N4.320b •Nasarawa N8.317b •Niger N4.306b •Ogun N20.00b •Ondo N14.686b •Osun N34.988b •Oyo N26.606b •Plateau N5.357b •Sokoto N10.093b •Zamfara N10.020b Total: N338b nancial exposure to the banks becomes first line charges deducted from their monthly allocation”. The CBN official explained that specific figContinued on page 2

•TILL DEA TH ...: The pilot, Squadron Leader Adekunle Suara, on his wedding day...last year DEATH

Air Force names crash victims

•PAGE 2

DSS nabs Boko Haram suspects in Lagos, Enugu, Kano, Plateau Operatives vow to frustrate sect’s activities

STORY ON PAGE 2

•SPORTS P15 •JOBS P35 •CEO P37 •MOTORING P39 •POLITICS P43 •FOREIGN P56


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