Headline

FULL LIST: 31 States Owe CBN N340bn Bailout Funds

Published

1 year ago

March 24, 2024

Thirty-one state governments owe the Central Bank of Nigeria, CBN, a total of N339.9bn obtained to pay workers’ salaries between 2015 and 2023, a document obtained from the apex bank has revealed.

The document also stated that the sub-nationals had yet to pay an outstanding of N339.97bn and a loan default of N1.31bn as of September 2023.

The fund, which was facilitated through the Salary Bailout Facility, a strategic intervention by the CBN aimed at alleviating the fiscal pressures faced by the states, was part of the over N10.3tn intervention fund made available by the apex bank under the immediate former CBN governor, Godwin Emefiele.

In contrast, the current governor, Olayemi Cardoso, stopped the programme, stressing that the apex bank could not continue to fund more intervention programmes amidst the current economic crisis.

The CBN said the SBF was designed to help the state governments to clear the backlog of salaries owed their employees. The initiative underscores the critical role of the CBN in stabilising the country’s financial landscape, especially in times of fiscal distress faced by state administrations.

The programme, which has been closed according to its status report, involved key stakeholders, such as the benefiting state governments, Deposit Money Banks, the Federal Ministry of Finance, and the Accountant-General of the Federation, all of whom played pivotal roles in implementing and managing the bailout package.

A breakdown of the report showed that 31 state governments benefited from the initiative, with N457.17bn disbursed. Despite the substantial disbursement, the principal repayment made so far totalled N117.21bn, with interest repayments at N45.21bn.

It also showed that the states collectively borrowed N457.17bn to pay salaries to their respective civil servants and an overdue amount of N1.31bn.

The report further said the top beneficiaries of the bailout facility included Imo, which received N20.46bn; Kogi, N20.26bn; Kano, N20.21bn; Oyo, N16.81bn; and Osun, N15.93bn.

The inability of the states to perform their primary obligation to their workforce has been a front-burner issue in recent times amidst clamour by labour unions to increase the minimum wage from the current N30,000.

Last year, state governments borrowed about N46.17bn from three banks to pay salaries between January and June, according to an analysis of the half-year 2023 financial statements of Access Bank, Fidelity Bank, and the Zenith Bank Group.

It was observed that the states borrowed the most from Access Bank in the six months, with a record of N42.97bn loan.

This was followed by Zenith Bank with N1.78bn, and Fidelity Bank with N1.42bn in the six months.

The PUNCH reported the inability of 24 states to pay workers’ salaries this year without having to wait for federal allocations from the central government despite improved federal allocations.

The development also means that the respective wage bills of the affected states surpassed their various internally generated revenues, raising concerns about workers productivity and state governments’ efficiency in internal revenue generation.

The 24 states include Bayelsa, Ondo, Yobe, Sokoto, Taraba, Plateau, Oyo, Niger, Nasarawa, Kogi, Kebbi, Katsina, Jigawa, Gombe, Ekiti, Ebonyi, and Borno.

Others are Benue, Bauchi, Adamawa, Akwa Ibom, Cross River, Abia, and Delta.

In 2023, state governors got the most Federal Account Allocation Committee disbursements in at least seven years. The rise in FAAC allocations to the three tiers of government, especially the states, followed the removal of petrol subsidy and currency reforms of the current administration. The reforms have reportedly led to a 40 per cent boost in income.

Financial experts have raised concerns about states’ spending on recurrent expenditure, highlighting the need to embrace financial innovations.

‘States risk insolvency’

The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said the report indicated that a majority of states were not financially sustainable and were at risk of insolvency if there was no boost in investment.

He said, “This issue is a fiscal sustainability problem, showing that many states are not fiscally sustainable and need to work towards it; and that the states need to do a lot more to attract more investments to their states so that their level of dependence on the Federal Allocation Accounts Committee would reduce.

“Even as we speak, many of them are also in debt, and by the time they pay salaries and service their debts, there is not much left to improve on infrastructure. It’s in the interest of the sustainability of the states for them to be more creative in generating more revenue and attracting more investment to their states so that they can generate more revenue.

“Secondly, we also need to address the issue of fiscal federalism because some of the states don’t have power over some resources in their domain and can’t bring investors into it. For instance, mining is controlled mainly by the Federal Government, you get permission from them and revenue is remitted to them. So we need to revisit the issue of restructuring to help states have more control over resources within their domain.”

A development economist, Aliyu Ilias, said many states had yet to fully develop themselves as industrialised and marketable to attract investors.

Ilias urged governors to develop an area of strength they could leverage to attract foreign investments.

To address these ongoing challenges, the report recommends that an increased focus be placed on enlightening state investment companies about the benefits of Public-Private Partnerships. Such partnerships could significantly enhance the state’s Internally Generated Revenue, improving fiscal health and reducing dependence on bailout facilities for salary payments.

This delay underscores the broader challenges of fiscal management and sustainability within the states, highlighting the need for more robust financial strategies and practices.
PUNCH

Headline

US Diverted 20,000 Anti-drone Missiles From Ukraine To Middle East -Zelensky

Published

19 hours ago

June 9, 2025

Editor

President Volodymyr Zelensky has revealed that the United States, under the administration of President Donald Trump, redirected 20,000 anti-drone missiles that were originally intended for Ukraine to American forces stationed in the Middle East.

In an interview published by ABC News on Sunday, Zelensky said Ukraine had relied on the missile delivery to bolster its defence against ongoing Russian drone assaults, particularly swarms of Iranian-designed Shahed drones.

He noted that the plan, developed under President Joe Biden’s administration and coordinated with then-Defence Secretary, Lloyd Austin, was meant to deliver a cost-effective and specialised missile system to counter aerial threats.

“We have big problems with Shaheds… we will find all the tools to destroy them. We counted on this project, 20,000 missiles. Anti-Shahed missiles. It was not expensive, but it’s a special technology,” Zelensky stated.

According to a June 4 report by The Wall Street Journal, the Trump administration ordered the diversion of the munitions, including special fuzes for the Advanced Precision Kill Weapon System, citing an urgent need to supply American forces in the Middle East.

The decision, reportedly communicated to Congress through a classified Pentagon message, was made under current Defence Secretary, Pete Hegseth.

A source from Ukraine’s military intelligence agency told The Kyiv Independent that Russia is preparing to escalate drone warfare, potentially launching more than 500 long-range drones in a single night as Moscow accelerates drone production and expands its launch capacity.

Since the beginning of Trump’s second term in January, his administration has halted the approval of new US military aid packages to Ukraine.

Trump has voiced reservations about prolonged military support for Kyiv and briefly paused shipments earlier this year.

Deliveries resumed after Ukraine agreed to a ceasefire framework during peace negotiations held in Jeddah on March 11.

Headline

Los Angeles Invaded By Illegal Aliens, Criminals, Says Trump

Published

20 hours ago

June 9, 2025

Editor

National Guard troops were deployed to Los Angeles on Sunday amid ongoing protests against immigration raids, despitethat California Governor Gavin Newsom’s objections.

Newsom formally requested the Trump administration rescind the order to deploy the troops.

The governor requested a letter to Defence Secretary Pete Hegseth, which he then shared on X.

“We didn’t have a problem until (U.S. President Donald) Trump got involved.

“This is a serious breach of state sovereignty – inflaming tensions while pulling resources from where they’re needed,” Newsom wrote.

“Rescind the order. Return control to California.”

Trump signed a memorandum on Saturday deploying 2,000 National Guardsmen “to address the lawlessness that has been allowed to fester,” the White House said.

An expert cited by The New York Times said this is the first time in 60 years that a president has deployed a state’s National Guard without the governor’s consent.

The last instance was in 1965, when President Lyndon B Johnson used troops to protect predominantly Black demonstrators during the civil rights movement in Alabama.

The protests began on Friday after Immigration and Customs Enforcement (ICE) officers executed search warrants across the city as Trump pushed forward with his goal of mass deportations of undocumented immigrants.

Newsom appealed to protesters to remain peaceful and not give the government an excuse to act.

“Trump is trying to manufacture a crisis in LA County — deploying troops not for order, but to create chaos,” he wrote on X.

“Don’t take the bait. Never use violence or harm law enforcement.”

Los Angeles Police said protests continued on Sunday, even when authorities had declared it an unlawful, gathering.

Protesters had blocked traffic on a freeway and had gathered outside the Metropolitan Detention Centre where soldiers had formed a perimeter around the building.

“Officers are reporting that people in the crowd are throwing concrete, bottles, and other objects. Arrests are being initiated,” police wrote on X.

Cars had also been stopped and set alight on roads, the police said.

An Infantry Brigade Combat Team of the Guard “has deployed approximately 300 soldiers to 3 separate locations in the greater Los Angeles area, the U.S. Northern Command posted on X.

“They are conducting safety and protection of federal property and personnel,” it added.

In a post on Truth Social, Trump said Los Angeles had been “invaded and occupied by Illegal Aliens and Criminals.”

“Now violent, insurrectionist mobs are swarming and attacking our Federal Agents to try and stop our deportation operations. But these lawless riots only strengthen our resolve,” he wrote.

He had directed his officials “to take all such action necessary to liberate Los Angeles from the Migrant Invasion, and put an end to these Migrant riots,” he said.

“Order will be restored, the Illegals will be expelled, and Los Angeles will be set free.”

Los Angeles Mayor Karen Bass said the city would “always stand” with those who call it home.

“Deploying federalised troops on the heels of these raids is a chaotic escalation,” she wrote on X.

“The fear people are feeling in our city right now is very real – it’s felt in our communities and within our families and it puts our neighborhoods at risk.

“This is the last thing that our city needs, and I urge protestors to remain peaceful,” Bass said.

“Los Angeles will always stand with everyone who calls our city home.”

Trump’s administration has threatened to deploy regular armed forces domestically, which would represent an even greater breach of norms.

Hegseth stated that, if necessary, U.S. Marines stationed in California could also be mobilised.

Newsom condemned Hegseth’s threat to deploy U.S. soldiers against its own citizens on U.S. soil, calling it “deranged behavior” in a post on X.

Hegseth responded to Newsom on X stating that the National Guard “and Marines if need be” stood with ICE.

“There is plenty of room for peaceful protest, but ZERO tolerance for attacking federal agents who are doing their job,” he wrote.

The U.S. Northern Command said about 500 Marines were “in a prepared to deploy status” should they be needed.

(NAN)

Headline

10 Countries Hiring Nigerians, Other Foreign Workers In 2025 With Easy Visa Process

Published

2 days ago

June 8, 2025

Editor

In 2025, the global race for skilled talent is intensifying as many countries grapple with labour shortages across key industries, prompting changes to visa policies to attract and retain foreign professionals.

In response, countries such as Canada, Japan, Australia, and Germany are expanding their immigration and visa pathways to attract foreign professionals.

According to TravelBiz, sectors like technology, healthcare, construction, and caregiving are seeing especially high demand in top destinations.

These countries aren’t just offering jobs—they’re also providing opportunities for long-term residency or even a pathway to citizenship.

Top 10 Countries Hiring Foreign Workers in 2025

1. New Zealand

New Zealand is streamlining immigration to address urgent gaps in its workforce.

In-demand roles: Civil Engineers, Registered Nurses, Plumbers, IT Professionals
Visa Pathway: Green List Straight to Residence Visa – direct pathway to permanent residency for critical occupations.

2. Spain

Spain has simplified work visa procedures to combat labour shortages.

Top roles: Construction Workers, Agricultural Labourers, Hospitality Staff
Visa Programs: Seasonal Worker Visa, General Long-Term Work Visa

3. Singapore

Asia’s innovation hub is actively hiring digital and biomedical professionals.

High-demand jobs: Biomedical Scientists, Software Developers, AI & Machine Learning Experts
Visa Options: Employment Pass (for professionals), S Pass (for mid-skilled workers)
Applicants should check the Ministry of Manpower (MOM) website for guidelines.

4. Romania

Romania is scaling up its workforce by issuing thousands of visas to foreign workers.

Key sectors: Construction, Agriculture, Hospitality
Visa Update: 100,000 annual guest worker visas approved for citizens of Nepal, Bangladesh, and India.
No university degree? No problem—these roles often don’t require one.

5. Estonia

Estonia is emerging as a digital economy leader with simplified work visa options.

Hiring in: Software Development, Web Design, IT Support
Visa Options: D-Visa (short-term employment), Digital Nomad Visa (for remote workers)

6. Ireland

With a booming economy, Ireland is opening its doors to international professionals.

Jobs in demand: Nurses, Chefs, Childcare Workers, Data Scientists
Visa Programs: Critical Skills Employment Permit, General Employment Permit

7. Japan

Japan is overhauling its immigration system to welcome more foreign talent.

Hiring for: Caregivers, Factory Operators, IT Engineers, English Instructors
Visa Options: Specified Skilled Worker (SSW), Highly Skilled Professional (HSP) Visa

8. Germany

Germany is making migration easier with a points-based system and international partnerships.

Top roles: Mechatronics Engineers, Technicians, Healthcare Workers, IT Specialists
Visa Type: Opportunity Card – a new system designed to simplify skilled migration
Knowing basic German is a plus; apply via the official Make it in Germany portal.

9. Canada

Canada remains one of the most immigrant-friendly countries, actively recruiting in multiple sectors.

In-demand jobs: Nurses, Truck Drivers, Welders, Software Engineers
Visa Options: Temporary Foreign Worker Program (TFWP), International Mobility Program (IMP)
Workers can switch jobs immediately after filing a new permit—no need to wait for approval.

10. Australia

Australia tops the list, thanks to booming demand in infrastructure and tech.

Top jobs: Construction Managers, Electricians, Cybersecurity Analysts, Aged Care Workers
Visa Route: Skills in Demand Visa, launched in December 2024, targets essential trades and high-growth fields
Apply early due to processing delays. Visit Home Affairs Australia and ensure your job title aligns with the official ANZSCO codes.