By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: CBN Approves N20 Billion Bailout For Kogi
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

CBN Approves N20 Billion Bailout For Kogi

Farouk Mohammed
By Farouk Mohammed
Published: May 1, 2016
Share
1 Min Read
SHARE

Yahaya-Bello-Official-1-1-1-1-1-1-1

The Central Bank of Nigeria (CBN) has approved N20 billion as bailout for the Kogi Government.

The state gov., Alhaji Yahaya Bello, announced this on Sunday in Lokoja while addressing a rally held by Organised Labour to mark this year’s May Day celebration.

Bello explained that the N20 billion was the first tranche of the N50 billion applied for to clear salary arrears of the state and local government workers.

- Advertisement -

He blamed the delay in the release of the fund on the last administration, saying that the application submitted by his predecessor was shoddily done and fraught with irregularities.

“We had to start from scratch. We are glad to announce that our efforts have paid off. This week, we received approval to draw down on the first tranche of our Bailout Funds from the Federal Government.

“This will amount to about N20 billion. We will draw down on the balance of about N30 billion as we meet the milestones for implementation of the first tranche, as set by the Central Bank of Nigeria,“ he explained.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CBNKogi
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article President Buhari’s Workers Day’s Message to Nigerians (READ)
Next Article Photos From Asa’s Live In Lagos Concert

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Police Blockade of PDP Secretariat Triggers Political Turmoil and Heated Reactions
Politics
APC Welcomes Kwankwaso Back to Collaborate with President Tinubu
Politics
Olubunmi Tunji-Ojo
FG Hails Success of E-Visa System, Processes Over 14,000 Applications in Six Weeks
News
Google Releases June 2025 Core Update
Tech
NELFUND
NELFund Warns Students Against Fake Loan Portal, Urges Caution Over Fraudulent Links
Education
- Advertisement -
Ad imageAd image

You May Also Like

International

Tinubu and Saint Lucia’s Prime Minister Agree to Establish Formal Diplomatic Relations

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 30, 2025
Ali Bukar Dalori
Politics

Ali Bukar Dalori Assumes Role as APC Acting National Chairman After Ganduje’s Resignation

Muhammad A. Aliyu
Muhammad A. Aliyu
June 30, 2025
MI Abaga
Celebrities

MI Abaga Expresses Regret Over Past Support for APC

Damilola A.
Damilola A.
June 30, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?