FG Bailout Fund: Who Is Fooling Who?

Since that announcement by the Federal Government of the release of
the whooping sum of N 713.7 billion as bail out fund to the thirty six
States of the Federation and the Federal Capital Territory Abuja,
controversy has trailed this pronouncement.

The announcement and release of this fund however, was sequel to
clarion calls by the Governors of the State to the President Muhammadu
Buhari administration for a respite.

This they saw as the last resort to the lingering poor financial
status of the States who are no longer capable of settling salaries of
Civil Servants in their various States.

Needless discusssing why and how they got to this quagmire, even as,
it is general knowledge that the second timers squandered State
resources in their re-election exercise.

But for the first timers, there are claims and counter claims of
inheriting empty treasuries from their predecessors.

Giving the fact that the respective States should not be allowed to
collapse, President Buhari in his magnanimity and wisdom announced the
release of the sum of N713.7 billion to the States as an intervention
fund.

Unfortunately, this announcement and release of the said fund has
remained a subject of controversy leading to such questions like "who
is really fooling who in this matter".

While some State Governors acknowledged the release and receipt of the
fund, few others are denying any such money and release.

Kwara State Governor Alhaji Abdulfatah Ahmed who acknowledge the
release and receipt of thefund siad that the money was meant to
restructure the debts of the States in various banks and financial
institutions in the country.

According
to the Governor, such settlements will enable the almost collapsed
States to come back to life as to be able to carry on with their
social responsibilities.

As that was going on, the Abia State Governor Okezie Ikpeazu who spoke
through his media aid, also acknowledged the receipt of the bailout
fund and went further to say that he received about three billion
naira (N3.b).While Imo Governor Owelle Rochas Okorocha through his
media aid, Sam Onwuemeodo spoke in the contrary. Saying that he is yet
to receive such money.

Fortunately, the Chairman of the Conference of Nigerian Governors
Forum and Governor of Zamfara State Abdulaziz Yari has further threw
more confusion in the entire episode by saying categorically that
there was nothing like bailout fund for any State from the Federal
Government.

Governor Yari was quoted as telling newsmen last week after their
meeting at the Transcorp Hilton Hotel , Abuja that he did not and has
not received any bailout fund from the federal Government.

He rather claimed that the money shared to the various states were
proceeds from the money paid by the Nigerian Liquedified Natural Gas
(NLNG)
So, if the claim of the Chairman of the Governors Forum is anything to
rely on, it therefore means that something is wrong somewhere which
the Buhari Government should explain to Nigerians.
It is either that those who claimed receipt did not receive anything
or that they do not know what they received or that the Federal
Government's so called BAILOUT FUND may have lost in transit.