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The Independent Corrupt Practices and Other Related Offences Commission (ICPC), working in concert with the Nigeria Labour Congress, made good its resolve to monitor the Bailout Funds for the offset of salary arrears loaned to twenty-seven states of the Federation as approved by President Muhammadu Buhari.

Following the conclusion of the monitoring exercise, the Commission hereby wishes to issue, for public notice, the report of the exercise.  The Commission, also, will not hesitate to provide updates to this report where applicable.

It is important to note that the monitoring exercise report and probable updates are being released to the public by ICPC to foster understanding between workers and the State Governments by providing a transparent process that eliminates information gaps that often lead to rumour-mongering.  The Commission is convinced that this will promote a healthy atmosphere for interaction between the parties on the matter.

REPORT ON BAIL-OUT FUNDS MONITORING OF  STATES AS AT 29TH FEBRUARY 2016

INTRODUCTION :

As part of the Federal Government’s effort to end the lingering crisis of unpaid worker’s salary in most States of the Federation, President Muhammadu Buhari approved a comprehensive relief package designed to salvage the situation through the Central Bank of Nigeria (CBN)’s Special Intervention Fund which offered affected States soft loans solely for the purpose of paying the backlog of salaries.

BENEFITTING STATES :

Whereas the Central Bank of Nigeria (CBN) is yet to officially confirm this to the Commission, the twenty-seven benefitting States from the open sources are: Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Sokoto and Zamfara State.

FINDINGS :

Following strident allegations of diversion of these bail-out funds and to avoid industrial unrest, ICPC in collaboration with the Nigerian Labour Congress (NLC), decided to monitor the disbursement of the bailout funds in the 27 benefitting States. However, relying on available resources we could only cover twenty-three States as follows:

 Imo State applied for and received bailout funds of N26,806,430,000.00 from Central Bank of Nigeria which were domiciled with two commercial banks namely Fidelity and Zenith Banks and disbursed N22,806,430,000.00 for staff salaries and emoluments.. In the course of analysis, it was discovered that some transfers were made into certain Imo state Government accounts which are not related to salaries and emoluments as follow:

i. N2 Billion into a Government House Account

ii. N2 Billion into an Imo State Project Account.

iii. N2 Billion transferred to a Micro-Finance bank.

iv. A management fee of N21, 017,810.00 was paid to unspecified account.

NOTE:

1. The Report indicate findings at the dates indicated above for each State. Subsequent changes may have taken place thereafter which the various States and Nigerian Labour Congress are at liberty to bring to our notice for verification and further comments as the need arises.

2. This Report has been published to assist all parties eliminate unsubstantiated allegations and promote peaceful negotiations and understanding in the management of government processes.

3. This Report comes under ICPC Prevention mandate and States are welcome to use this Initiative.

Signed:
Edet Ufot
For: Commissioner, Public Enlightenment /Spokesperson for the Commission
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