Bailout funds: We’ve got approval, but no alert yet —Ebonyi govt

ABAKALIKI—EBONYI State government, Monday, explained that the proposed bailout fund for the state had received accelerated approval by the Central Bank of Nigeria, CBN, after it met all the pre-requisites for accessing the loan. In a chat with Vanguard, Commissioner for Finance and Economic Development, Chief Dennis Ekumakama, who stated the importance of the funds to the state, added that the Ministry of Finance was yet to receive any alert indicating receipt of the fund. The bailout fund which is estimated at N4.6 billion is expected to assist the state government in the payment of the proposed increment in salaries to Ebonyi workers by the Special Salary Committee headed by Senator Sam Egwu. At the time of this report, the state government was yet to authoritatively declare that it has received the proposed bailout.