Paris/London Club Debt: FG Approves N522.74bn Refunds to States Ndubuisi Francis in Abuja President Muhammadu Buhari, has approved a total of N522.74 billion to be disbursed to states as reimbursement for over-deductions on external debt service. A statement issued by Festus
Akanbi, media aide to the Minister of Finance, Mrs. Kemi Adeosun said the debt service deductions were in respect of the Paris Club, London Club and multilateral debts of the federal and state governments. He said the first tranche of N153.01 billion is currently being processed for release to
14 states. The Ministry of Finance said state governments had submitted to the federal government claims of over-deductions for external debt service between 1995 and 2002 as a result of allocations on First Line Charge deductions from the Federation Account Allocation Committee
(FAAC). "While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some states had already been overcharged. "On the request by state governments for a refund of amounts owed by the federal government, Mr. President
directed that claims be subjected to verification by the Debt Management Office and a team was established and given the mandate to scrutinise claims and reconcile with available records. "The brief for the team was also extended to include a review of interim payments made
under previous administrations. Work has commenced to resolve each state government’s claim and the exercise is expected to take approximately 12 months. The exercise will be thorough, including a complete reconstruction of records dating back to Continued on page 6
Rights Groups Decry Military Occupation of S/East, Desecration of Ojukwu Statue ... Page 10 Saturday 3 December, 2016 Vol 21. No 7898 Price: N250
www.thisdaylive.com TR
UT H
& RE A S O
N
Court to FG: Detention of El Zakzaky Capable of Breeding Another Boko Haram Orders release within 45 days
Alex Enumah in Abuja A Federal High Court sitting in Abuja yesterday ordered the unconditional release of detained
leader of the Islamic Movement of Nigeria, Sheik Ibrahim El Zakzaky and his wife within 45 days from yesterday. The court also awarded N25 million damages each, in favour
Awards N50m damages to detainee, wife
of Zakzaky and his wife. Trial judge, Justice Gabriel Kolawole in a judgement delivered on fundamental suit brought against the federal government by the applicants
over their illegal detention since December 2015, also ordered the FG to build a decent accommodation that the applicant and his family would settle into after their release.
The accommodation should be anywhere in Kaduna or within the North where the IMN has its abode, the court ruled. Kolawole in the jugdement,
held that the government acted in gross violation of the Constitution by keeping the applicants in "protective Continued on page 6
FG May Not Find Creditors for $30bn Loan, Says Sanusi
Current approach to managing economic crisis severely misguided Says CBN violating loan limits to FG, puts total loan, overdraft to govt at N4.7trn Clampdown on Bureau De Change operators across the country counter-productive NNAMDI OHUABUNWA
James Emejo and Kasim Sumaina in Abuja
I Want to Have 25 Radio Stations
SuperSaturday pg. 8-9
Former Governor of the Central Bank of Nigeria (CBN), and Emir of Kano, Mallam Muhammad Sanusi II yesterday in Abuja criticised the administration of President Muhammadu Buhari for relying on massive fiscal expansion and a faulty foreign exchange policy that discourages investment to get the country out of the current recession. Sanusi made his position known in his keynote address titled, "A Plan to Restore Confidence, Direction and Growth" at the policy monitoring dialogue on the state of the Nigerian economy organised by the Savannah Centre for Diplomacy,
IKE EKWEREMADU
Buhari Fighting Corruption His Own Way
Plus pg. 17-19
Continued on page 6
OGFZA Extends Regulatory KING OF MOROCCO AT THE VILLA Control to Oil & R-L: President Dangote Group, Alhaji Aliko Dangote; President Muhammadu Buhari; King of Morocco, His Majesty Mohammed VI; President, Fertilizer Suppliers Association of Nigeria, Mr Thomas Etuh, after signing of MOU on Strategic Partnership for a fertilizer powerhouse in Nigeria during a state Gas FZs ...Pg 14 visit at the State House in Abuja ...yesterday Osinbajo Rejects Quota System, Says Nigeria Should Embrace Merit ... Page 54 STATE HOUSE