N400bn State Fund: Masari Government Accused Of Misappropriation

The Peoples Democratic Party (PDP) has accused the Katsina State Government of misusing over N400 billion generated by the state in the last 31 months. Alhaji Salisu Majigiri, the State Chairman of PDP said at a press conference on Tuesday in Katsina, that the over N400 billion was “misused by top government officials”. He said in spite of the huge amount that accrued into government coffers the state and its people have remained in poverty and debt. According to him, the state received over N243 billion from the Federation Account during the period and N30 billion from the Paris Club refunds.

“In spite of collecting four Tranches of debt refunds amounting to over N30 billion, the government has borrowed various sums of monies from commercial banks with double-digit interest rates to the tune of N70 billion. “The receipts, loans, internal revenue and more than N14.5 billion left in the various accounts by the last PDP administration made Katsina State one of the richest states in the country,” he said.

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Author: see naija

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