The Senate on Tuesday, acquired a request from President Muhammadu Buhari to approve the sum of N148,141,969,161.24, as promissory notes to 5 states for Federal Street tasks executed by the States.
The states are: Bayelsa, Cross River, Ondo, Osun and Rivers.
Buhari’s request was contained in a letter dated August, 13, 2020 and skim by the Senate President, Ahmad Lawan, throughout plenary on Tuesday.
It reads: “The Senate Could want to learn that the Federal Govt Council (FEC), at its assembly of June 3, 2020 authorized the reimbursement of N148,141,969,161.24 by means of the issuance of Promissory notes to the Bayelsa, Cross River, Ondo, Osun and Rivers State Governments for Federal Street Initiatives executed by the states.
“The approval by FEC was subsequent to the advice of an Inter-Ministerial Committee which reviewed the requests for reimbursement made by the State Governments for the tasks. The Committee reviewed the paperwork submitted and carried out bodily inspection and verification of the tasks within the respective states earlier than making its advice to FEC.”
Out of the sum of N148,141,969,161.24, Bayelsa State is predicted to be reimbursed N38,404,564,783.40; Cross River State, N18,394,732,608.85; Ondo, N7,822,147,577.08; Osun State, N4,567,456,673.63; and Rivers State, N78,953,067,518.29.