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Paris Club Bail Out Funds: Senate to probe disbursements

The Senate on Thursday said it has resolved to probe how the Paris Club Refunds and other bailout funds to state governors by President Muhammadu Buhari were approved.

The Senate’s decision followed a point of order raised by Sen. Samuel Anyanwu (PDP- Imo) during plenary, who afterwards, sought the leave of the Senate to move a motion on the matter during the next legislative day.

He queried the legality of the funds given to governors by Buhari.

It would be recalled that a former Chairman of the Revenue Mobilization and Fiscal Commission, Alhaji Haman Tukur stated recently that President Muhammadu Buhari had no constitutional right to single handedly give out such bailout funds without the approval of the national assembly and other bodies.

Following the motion, the President of the Senate, Dr. Bukola Saraki, sought and got the leave of his colleagues and approved that the proper motion be brought by Anyanwu, to the floor on another legislative day

The Federal Government had released the breakdown of payments to the 36 states as refund of “over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments from 1995-2002.”

The latest payment was the second tranche of the refunds to the states with a total of N243.8 billion released to the 36 states and Federal Capital Territory.

Buhari, while releasing the N243.80 billion as second tranche of Paris Club refund to states, urged the governors to use a major part of the funds to offset salaries, pensions and other allowances of workers


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