Central Bank of Nigeria, CBN, has disclosed that 19 out of the 27 states affected by the cash crunch hiccups have so far benefitted from the Federal Government’s workers’ salary bail-out package to enable them pay the backlog salary arrears and emoluments.
CBN spokesman, Mallam Ibrahim Mu’azu, who stated this in a telephone chat over the weekend in Abuja, said contrary to reports that Ogun State has accessed N20 billion, the actual amount is N18.9 billion.
On the tenure of the bailout facility, he said that all the states have a 20-year period of repayment except Ogun which opted for a 10 year tenure.
Earlier, states like Kwara, Zamfara, Osun, Niger, Bauchi, Gombe, Abia, Adamawa, Ondo, and Kebbi had applied for and received various sums from the bailout facility.
Other states include Ekiti, Imo, Ebonyi, Ogun, Plateau, Nassarawa, Sokoto, Edo and Oyo were granted earlier last week.

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