Home BUSINESS BANKING & FINANCE FCT Minister Turns Father-Christmas, Doles Out N1.6 Billion Bailout To Councils

FCT Minister Turns Father-Christmas, Doles Out N1.6 Billion Bailout To Councils

FCT Minister, Musa Bello

Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has ordered the release of the sum of N1,679,825,308.1 as
bailout to the six Area Councils of the Capital Territory.
The fund, according to the minister, is meant for
the payment of two months salaries owed the workers by the Councils.
Musa Bello who made the order at a news briefing in his office insisted that the bailout fund must not be diverted for purpose other than the payment of staff salaries.
According to the minister, the bail out to the six Area Councils would be recovered by the FCT Administration from the10 percent of the internally generated revenue (IGR) statutorily due to the Councils.
The funds would be disbursed to the Councils as follows:
Kwali N251,120,125.32
Bwari N289,724,550.00
Abaji N267,724,550.00
Kuje N295,708,856.60
Gwagwalada N262,559,501.26
Abuja Municipal N312,987,740.12
Also speaking, the FCT Permanent Secretary, Dr. Babatope Ajakaiye said that the Administration has been able to give this bailout because of its strict fiscal management even as he advised the Councils to imbibe discipline in funds management.
The Permanent Secretary further advised the Councils to cut down on their unnecessary expenditure, reminding them that the era of frivolities is gone forever.
He warned that the bailout must be used strictly for the payment of staff salaries as contained in the agreement between the FCT Administration and the Area Councils.
Dr. Ajakaiye said that due process and necessary legal steps were followed in the approval and subsequent release of the bailout funds.
He said that the Administration approached the National Assembly for virement of its funds for this purpose, while Area Councils’ Legislative arms also gave their nod to the Chairmen to secure the bailout via letters to the FCT Administration.
The FCT ALGON Chairman who is also the Chairman of the Abuja Municipal Area Council, Mr. Micah Jiba, spoke on behalf of his colleagues and thanked the FCT Minister and the Permanent Secretary for their fatherly disposition.
He promised that the money would be used for the purpose it is meant.
Also the Chairman of the FCT NULGE, Comrade Tanko Shemdi, appreciated the FCT Administration for intervening in the salary crisis of the Councils through such bailout. [myad]

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