The House of Representatives has approved the request of the President, Major General Muhammadu Buhari (retd.), to refund a total sum of N148.14bn to five states.
The approval, which was given by the House at the plenary on Wednesday, was in concurrence with the Senate which granted Buhari’s request earlier on Tuesday.
The amount was meant for projects executed by the states on behalf of the Federal Government.
The House, on Wednesday, considered and adopted the report by the Committee on Aids, Loans and Debt Management on the “Promissory notes programme and bond issuance as refund to Rivers, Bayelsa, Cross River, Osun and Ondo states governments for projects executed on behalf of the Federal Government.”
According to the report, the promissory notes programme and bond issuance was to settle outstanding claims and liabilities of the five states.
Bayelsa is to get N38.4bn; Cross River, N18.39bn; Ondo, N7,82bn; Osun, N4.56bn; and Rivers, N78.95bn.