Loans repayment: Osinbajo wades into governors, CBN dispute 

From Juliana Taiwo-Obalonye, Abuja 

Vice President Yemi Osinbajo, yesterday, waded into the disagreement between state governors and the Central Bank of Nigeria (CBN) over the repayment of the budget support facility obtained by the states. 

He did this at the virtual meeting of the National Economic Council (NEC) he presided over. 

During the meeting, Chairman of the Nigeria Governors Forum (NGF) and governor of Ekiti state, Dr. Kayode Fayemi, had insisted that they wanted the loan repayment due in May to be deferred. 

However,  the CBN governor, Godwin Emefiele, insisted that the states should begin the repayment without future delay especially the monies owed to the banks. 

The CBN boss said there were challenges arising from delays particularly as it concerned auditing. 

A statement by the Vice President’s spokesman, Laolu Akande said: “On the Budget Support Facility, state governors restated their request to defer the repayment of the loans, which was to have started this month. Ekiti State Governor, Dr. Kayode Fayemi, who is also Chairman, Nigeria Governors’ Forum, reported interactions with the Finance Minister and the CBN Governor regarding the matter.

“The CBN governor, Godwin Emefiele, also emphasised the importance of the timely repayment of loans, especially those owed to commercial banks, indicating the challenges inherent in a further delay in payment, including audit concerns. He said the repayment of the commercial loans should resume this month.”