30 states benefit from CBN’s concessionary loans to offset workers’ salary arrears, says Buhari

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Abuja – President Muhammadu Buhari has said that the Central Bank of Nigeria had so far assisted more than 30 states of the federation with concessionary loans to offset salary arrears for their workers.

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The president, who stated this in Abuja on Wednesday at the swearing in of ministers, said the bank also implemented country-specific and innovative policies that had helped to stabilise the exchange rate and conserve the nation’s reserves.

“The Central Bank of Nigeria has also assisted more than 30 states of the federation with concessionary loans to offset salary arrears for their workers.

“On the monetary side, the CBN has also implemented country-specific and innovative policies that have helped to stabilize the exchange rate and conserve our reserves.

“While recognising the challenges we face and the need to surmount them, let us not fail to note the progress we have made in the short life of this government, as an indication of how much better we can do as a people driven by patriotism and a common resolve to do things right.’’

Buhari expressed delight over the progress recorded by his administration so far, saying that “this is an indication of how much better we can do as a people driven by patriotism and a common resolve to do things right’’.[pro_ad_display_adzone id=”70560″]

According to the president, trust is slowly but steadily being re-established between the government and the people.

He said that government business was being conducted with transparency and “cynicism is waning as a result’’.

“On the moral sphere, trust is slowly but steadily being re-established between the government and the people.

“Now, when the government speaks, the people listen; and when the people’s expectations are not met, they appreciate that it is not for lack of commitment or trying on the part of government.

“In effect, government business is now being conducted with transparency and cynicism is waning as a result.’’

On the new ministers, the president, who reduced the number of ministries from 38 to 24, said they must proceed to work speedily and do their utmost to justify the confidence reposed in them not only by their conduct but also by their performance in their various positions.

Meanwhile, addressing State House correspondents after the maiden Federal Executive Council (FEC) meeting, the Minister of Information and Culture, Alhaji Lai Muhammadu, said the council reviewed the report of the ministerial retreat held last week.

He said the president challenged the ministers to see their appointments as call to duty and urged them to redouble their efforts in meeting the expectations of Nigerians.

“Today was not a very heavy meeting in terms of attendance. The highlight of the meeting was, the president welcoming us to the executive council and we reviewed the report of the ministerial retreat that took place last week.

“During the meeting, the president, once again, reiterated his charge to all of us to see our appointments as a call to duty and for us to also understand the precarious nature and the situation of Nigeria, today.

“And we should all double our efforts to justify the confidence Nigerians have in us and (the confidence) he has in us.’’

Mohammed, who pledged to partner with the media, however, solicited for their cooperation and support to enable him discharge his duties diligently. (NAN)


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