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The Senate has approved payment of N148 billion promissory notes to Bayelsa, Cross River, Ondo, Osun and Rivers states as refund for projects executed on behalf of the Federal Government.
This followed the adoption of a report by Committee on Local and Foreign Debts, led by Ordia Clifford (PDP-Edo), at plenary, yesterday.
The Federal Government had sought the approval of the Senate for issuance of promissory notes for refund on federal projects executed by state governments.
The request was contained in a letter addressed to President of Senate, Dr. Ahmad Lawan by President Muhammadu Buhari, read at plenary.
The Senate had referred the matter to the Committee on Local and Foreign Debts for further legislative input.
Ordia, while presenting the report of the committee said the Permanent Secretary, Federal Ministry of Finance, Federal Commissioners of Finance and Works in the five states had briefed the committee on details of the projects.
He listed the amount due to the five states as, Bayelsa, N38,404, 564,783.40 ; Cross River, N18,394,732,608.85; Ondo, N7,822,147,577.08; Osun, N4,567,456,673.63 and Rivers, N78,953,067,518.29
Contributing, President of the Senate, Ahmad Lawan, said the records showed that PDP states had the highest refund.
