TheNewsGuru

Tag: allocation

  • FG’s refusal to release monthly allocation to Ekiti is vindictive – Fani-Kayode

    Former minister of aviation, Chief Femi Fani-Kayode on Wednesday said Federal Government’s refusal to release the monthly allocation to Ekiti State Government is petty, vindictive and reprehensible.

    Simply because the courageous Ayo Fayose has become the rallying point of opposition against Muhammadu Buhari does not mean that the people of Ekiti state should suffer.

    I call on Acting President Yemi Osinbajo to intervene in this matter expeditiously and release the Ekiti State Governnent’s allocation forthwith.

    Recall that Ekiti state Governor, Ayode Fayose yesterday addressed the media over the seizure of the state’s allocation while alleging that FG has plans to cripple activities under his administration.

    Fayose’s words, “I called you here today to intimate you about the new plot by the All Progressives Congress (APC) led federal government to cripple our state by rendering it impossible for the government to carry out its statutory financial obligations.

    “It is alarming that while we were almost concluding that the siege on Ekiti and its people by the APC government in Abuja, with full collaboration from leaders of the party in Ekiti State had stopped, we are now being confronted with yet another shenanigan by those who won’t mind to see Ekiti people die of hunger just to achieve their selfish political agenda ahead of the 2018 election.

    “The question is; if they have issues with Fayose politically, must they suffer the innocent government workers?

    “Two weeks ago, some top functionaries of the APC in Ekiti State met in Abuja where it was decided that renew efforts should be made to cripple the State. It was agreed that the federal government must be made to stop all intervention funds to Ekiti State while the Economic and Financial Crimes Commission (EFCC) should be used to cripple the finances of contractors handling government legacy projects.

    “The game plan is that the moment workers do not receive their salary, they will hate me and my party, the PDP and this they believe will translate to votes for them in 2018.

    “This new onslaught against Ekiti State and its people started with the stoppage of the State January allocation and statutory budget support fund.

    “While all states in Nigeria received their full allocation from the federation account last month, the budget support fund was not release to Ekiti State thereby making it impossible for the state to meet its financial obligations, most especially the payment of salaries.

  • CBN denies reports of allocation of dollars

    CBN denies reports of allocation of dollars

    The Central Bank of Nigeria (CBN) has denied reports from some quarters that it allocates dollars unilaterally.

    A statement by Mr Isaac Okoroafor, Acting Director, Corporate Communications on Saturday in Abuja, decried the way some Nigerians chose to disparage those in leadership at this time in total insensitivity to the larger interests of the Nation’s economy.

    He added that the CBN had set up an inter-bank foreign exchange market where anyone who wishes to buy foreign exchange could bid for and buy through their banks.

    ”It is not true that CBN allocate’s dollars.

    ‘There is no where in the world that the Central Bank sits by and allows vicious speculators to solely distort the value of its currency endlessly.

    ”All central banks intervene to buy or sell in the market to ensure that the local currency is protected from dubious attacks.”

    He said that the channels for advice and contribution of ideas on the current economic situation by all patriotic Nigerians were open.

    Okoroafor pointed out that the seed of the nation’s current economic crisis was planted by the failure of those who occupied public office in the past but failed to act in the long term interest of the Nigerian economy.

    He said it was easy for people to criticize from outside when they were already out of office.

    According to him, the challenge the nation faced today was a choice between pandering to the established interest in Nigeria’s speculative economy and the protection of the wages of the real stakeholders who work hard on fixed incomes.

    He said those were the core victims of the Naira depreciation.

    He, however, assured Nigerians that the apex bank and the Federal Government will continue to explore avenues to find solutions to the current economic situation.