FG stops outgoing governors from taking foreign loans

Compass

20 March 2011

FG stops outgoing governors from taking foreign loans

No longer will state governors be permitted to enter into loans and debt obligations that will continue after their term in office, the federal government has decided as part of its fiscal reform programme, according to the Finance Minister, Dr. Segun Aganga, Empowered Newswire reports.

Besides, the Minister who during the week in New York also disclosed that the federal government has already saved about N12b from payrolls and salaries with the adoption of data capturing of personnel information.

Aganga who spoke to a select group of Nigerian diplomats and reporters in New York ahead of a Gala night held in his honor by Techno-Serve, an international not for profit organization that seeks to cut poverty in the world, ...