Thursday, July 23

Oyo Receives N5.4bn Bailout

Oyo Receives N5.4bn Bailout

The leadership of the Nigeria Labour Congress in Oyo State has said bailout funds totaling N5.4bn has been released from the Federation Account to the state.

The Chairman of the congress in Oyo State, Waheed Olojede, said documents from the Federal Ministry of Finance in Abuja, which was presented to the state Accountant-General, revealed that a sum of N2.7bn was disbursed for payment of salaries by the state while another N2.7bn was to be shared by the 33 Local Governments in the state.

In a statement on Thursday, Olojede appealed to Governor Abiola Ajimobi to approve the release of funds for the payment of March and May salaries as well as pensions of workers.

He said an agreement had been reached with the state government to pay salaries and workers' pensions in grade levels 13 and above as well as subventions to the Judiciary and the state higher institutions for the month of March in a meeting held on July 21st.

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