The Federal Government has paid $5.4bn Paris Club Refund to the 36 states of the federation, according to Finance Minister, Ahmed Zainab.
Ahmed revealed this in a statement on Monday in Abuja, noting that the amount would be converted based on the official exchange rate of N305 per dollar, which makes it about N1.65trn.
She added that the Paris Club Refund was sent to the states in phases based on some criteria.
According to her, such conditions are that the states must pay salaries, get dedicated to the repayment of Budget Support Loans granted in 2016.
States were also ordered to clear amounts due to the Presidential Fertiliser Initiative, commitment to clearing matching grants from the Universal Basic Education Commission where some States have available funds which could be used for primary education.
