Minister of Finance, Mrs. Zainab Shamsuna Ahmed has said that there is no other tranche of Paris Club Refunds to be given to states.
In a statement on Monday in Abuja, she said the last tranche of the money has already been disbursed to state governments in March 2019.
She said the clarification became necessary following news making the rounds that states will soon receive disbursement of outstanding balance of the Paris Club debts.
The statement signed by the Minister’s Special Adviser on Media and Communications, Mr Paul Ella Abechi reads, “There is no another tranche of Paris Club Refunds to be disbursed to states, because the money has already been disbursed in March 2019 after verification was made.
“For the final phase of the Paris Club debts refunds, the total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be refunded to the State Governments.
“The payments made by the CBN as at March 2019, is N691.560 billion. The increase in CBN payments partly arose from exchange rate differential at the point of payment.”