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Home Government President Buhari Grants State Govts Releif From Monthly Deductions Regarding Cbn Salary...
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President Buhari Grants State Govts Releif From Monthly Deductions Regarding Cbn Salary Assistance Loans

By
Laolu Akande
-
April 22, 2016
President Muhammad Buhari
President Muhammad Buhari
Pres-BuhariA      REPORT ON EXCESS CRUDE PROCEEDS
        *   Minister of Finance told the Council that the Account has a balance of $2.3 billion.
B      UPDATE ON CONSTITUTION OF EXECUTIVE SEARCH COMMITTEE OF THE BOARD OF NIGERIA SOVEREIGN INVESTMENT AUTHORITY (NSIA) WAS MADE BY MINISTER OF FINANCE
 
·        Minister of Finance, Mrs Kemi Adeosun gave an update to the Council on the progress regarding the constitution of the NSIA Board.
 
·  The Minister told the Council that nominees have been selected to form a Search Committee that will bring up names of potential Board members of the NSIA.
C      RECONSTUTION OF BAORD OF NIGER DELTA HOLDING COMPANY (NDPHC)
·        The Vice President and Chairman of Council informed the Council of the reconstitution process of the Niger Delta Power Holding Company, NDPHC, with representatives from States based on the
six geo-political zones as follows:
        (i)     North-Central                  –       Plateau State
        (ii)    North-East                       –       Adamawa State
        (iii)   North-West                      –       Kebbi State
        (iv)   South-East                      –       Anambra State
        (v)    South-West                      –       Lagos State
        (vi)   South-South                    –       Edo State
D    UPDATE ON STATES THAT HAVE RECEIVED BAILOUT FUNDS   
·        CBN Governor reported to the Council that a total sum of
N689.5 billion has now been disbursed as salary assistance loan to States and additional N310 billion disbursed as Excess Crude Account-backed loans to States.
 
·        Regarding the salary assistance loans, the Finance Minister informed Council that President Muhammadu Buhari has approved the suspension of  monthly deduction at source for this month, and no such deductions would be made this month from the FAAC allocations to the States.
 
·        This is meant by the President to give the States some financial relief at a time the FAAC allocations are dwindling due to the drop in oil prices.
 
·        The Vice President, Prof. Osinbajo added that the President will continue to review the situation of the States on an ongoing basis and take appropriate relief measures as necessary and possible.
 
          F      NIGERIA ROAD SAFETY STRATEGY DOCUMENT (NRSS)
·        FRSC Corps Marshall Boboye Oyeyemi was also in attendance to present the Nigeria Road Safety Strategy Document (NRSS – 2014-2018) to the Council. 
 
·        The document serves to address current overlaps, streamline the role and responsibilities of all participants in order to maximize the benefits of investment in road safety management activities.
NEC endorsed the Strategy at today’s meeting.
 
Laolu Akande
Senior Special Assistant-Media & Publicity
In the Office of the Vice President
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Laolu Akande
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PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
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Police Foil Bandit Attacks in Katsina, Rescue Victims as Traditional Leader AbductedRibadu Proposes Reintegration of Military Veterans to Bolster National SecurityDICON, Saudi firm sign MoU to produce security drones, satellites in NigeriaEx-COAS Urges Reforms in Recruitment, Training of Army, Harps on Prioritisation of Troops’ WelfarePrioritise Troops’ Welfare, Mission Over Personal Gain - COAS Charges Army CommandersNigeria's Growth Numbers Tell Only Half the Story By Umar Farouk BalaThe Burden Too Many Nigerian Youths Bear AloneCAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in NigeriaEmployment: ICPC Secures Conviction of FAAN StaffCustoms Hands Over N172m Worth of Cannabis to NDLEA in Ogun, Commissions 13 New Patrol VehiclesCombating Deepfake Videos: A Fight for Nigeria's Soul By Mukhtar Ya'u MadobiMilitary Foils Terrorists' Bomb Attack, Discovers 56 IEDs on Marte–Dikwa Bridge in BornoNIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE Africa AwardsDHQ: How Troops Nabbed Mastermind of NDLEA Commander’s Kidnap in AnambraFederal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment
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