President Buhari Reason of Approved N702.7 Billion Bailout Fund



As Nigerians continue to express mixed feelings over the states which have been unable to pay staff salaries, indications have emerged as to the real reason why the president decided on the bailout.
According to sources at the Presidency, Buhari ordered the bailout after considerable pressure from All Progresives Congress (APC) governors, especially those whose states had contributed financially to his emergence as President.

They include Rauf Aregbesola (Osun), Rochas Okorocha (Imo), Akinwunmi Ambode (Lagos), Ganduje (Kano). Although the APC lost in the gubernatorial election in the state, former Rivers Governor, Rotimi Amaechi left a huge debt profile for Governor Nyesom Wike.
It would be recalled that President Buhari on Tuesday, June 23, 2015 met with Governors in a bid to sort out the salary crisis.
In the aftermath of the meeting, President Buhari set up a committee to look at the possibility of a bail out.The committee was headed by Vice President, Yemi Osinbajo.
President Buhari had on Monday, June 29, 2015 told the governors who were owing their workers to look for means to pay staff salaries, insisting that a bail out of the question.
With the President previously insisting that there would be no bailout, many pundits have called to question the rationale behind the sudden turnaround when the Osinbajo-led committee is yet to submit its report on the said bailout.
According to inside sources, several factors led to the “overnight” turnaround, chief of which are the APC governors who funded his campaign. The governors allegedly threatened to spill details of how fund meant for the state were used to put him in office.
Governor Aregbesola who is currently battling impeachment proceedings over mismanagement of state funds is said to have threatened to spill information about the whereabouts of state funds.
The inside source, who spoke on the condition of anonymity said: “The governors, especially Aregbesola feel it would be unfair for the president to leave them to their fate, given that they contributed massive state funds to his campaign.”
Another source within the APC said National Leader of the party, Bola Ahmed Tinubu, who recentlyboycotted the APC National Executive Council (NEC) meeting along with South Western leaders – whose loyalty to Tinubu is unquestionable – is also another major factor.
The source said Tinubu threatened to expose President Buhari, especially as both  men are not on the same page as regards the crisis currently rocking the National Assembly.
Another factor to note is the fact that President  Buhari has refused to set up his cabinet, choosing to run the country like a sole administrator, making decisions like the bail out “on his own” without recourse to any ministry of governmental protocol.

Comments

Post a Comment

Popular posts from this blog

Pictures from the Golden Globes 2014 Red Carpet worst Dress

Image
It's one of the biggest social events on the A-list calendar, so the pressure is on for the A-list to shine at the Golden Globes.   And while Margot Robbie, Zooey Deschanel and Anna Gunn lit up the red carpet, leading the best-dressed pack in off-white, not everyone got it quite right. Sandra Bullock,  usually so fashion-forward,   made a rare misstep at this year's event in an unflattering pink, blue and black color block gown and messy side ponytail but, way out in front of the worst-dressed pack, Lady Victoria Hervey wore a dress that made her resemble a reject from an X-rated version of Dancing On Ice. Paula Patton, Julia Roberts and Jennifer Lawrence also turned heads for all the wrong reasons. Here FEMAIL round up the best and the very worst fashion of the 71st annual Golden Globes awards. What WAS she thinking? Lady Victoria Hervey goes for the 'sexy' barely there look at the Golden Globes this year but her dress resembles a pair of opaq...
Read more

Singer Ciara welcomes baby boy with her rapper fiancé Future

Image
Singer Ciara has given birth to a baby boy. The Goodies hitmaker and her fiancé Future welcomed a son into the world 'very early' on Monday morning in Los Angeles, the New York Post newspaper's  Page Six  column reports. The baby is Ciara's first child, and Future's fourth. She explained: 'I went with what felt right in my soul and my gut. I didn't second guess it.' Luckily, the Body Party star also admitted her pregnancy has been 'very easy.'
Read more

Miley Cyrus goes viral: Now online pranksters make a laughing stock out of controversial singer's naked video

Image
Miley Cyrus is no stranger to straddling that fine line between good and bad taste... nor indeed to internet mockery. But have you ever seen her astride a Russian space rocket, riding a dolphin or hitching a lift on Steve McQueen's motorcycle - completely naked but for a pair of Dr Martens boots? The former Disney star, 20, has again become the source of fun for internet pranksters who have mocked up a series of pictures of her straddling a variety of animals and famous landmarks. Scroll down for video. Crest of a wave: Miley Cyrus has been the source of so many internet memes in recent months it is becoming increasingly difficult to switch on a computer and not be confronted by her face... or indeed some other body part Eiffel taste! Internet pranksters have mocked up a series of pictures of her wearing nothing but a pair of Doctor Marten boots while straddling a variety of animals and objects, including Paris' iconic Eiffel Tower The Great Escape...
Read more