State govs, CBN disagree over loan repayment

The 36 state governors under the aegis of the Nigeria Governors’ Forum and the Central Bank of Nigeria have disagreed over the repayment of the budget support facilities given to the states by the CBN.
The forum was a virtual National Economic Council meeting on Thursday chaired by Vice President Yemi Osinbajo.
Osinbajo’s spokesman, Laolu Akande, in a statement, said the NGF, through its chairman and Ekiti State Governor, Kayode Fayemi, requested that the loan repayment, due in May, be deferred.
Emefiele was however said to have harped on the need for the timely repayment of the loans, especially those owed to commercial banks, indicating the challenges inherent in a further delay in payment, including audit concerns.
According to the statement, the CBN governor insisted that the repayment of the loans should resume this month.
The VP reportedly said he would soon meet with representatives of the state governors, Emefiele and the finance minister to resolve the issue.