Nigerians react to bailout money to states held by banks


A couple of weeks back, when the Federal Government announced a bailout for the states owing workers’ salaries for months, the hope of those states was that the storm was over. But to their outermost dismay, the money couldn’t get to them as it’s said to have been trapped by the banks the states are also owing.

ENCOMIUM Weekly sought the reactions of some Nigerians on this, and they all appealed to the Federal Government to intervene in the interest of the suffering workers in those states….


‘The president to leave the states to their fate’ -FUNKE AKINWADE

I will advise the president to leave the states to their fate. A lot of them get allocations, what did they use it for. If they don’t care about the people they are governing, it means they are not fit to be in the position they are holding.



What is happening in those states has revealed who is actually working. It means some governors are just spending unnecessarily. How will schools be closed down for almost a year in a state and the governor is still receiving salary, it is sad.


‘The bailout should should be managed properly’ -DEBBIE TEMIDORE

It all comes down to mismanagement of state funds by their chiefs, that is governors. So, it means that not only are the states owing their workers they are also owing banks. My question is, what exactly was the monies borrowed from the banks expended on?

It is not that the states have significantly developed over the years, I wonder what the borrowed money was used for. I think the Federal Government has to look into this rather than just pump more money into the states’ coffers in the name of bailout.


‘The banks release the monies’ -SOPHIA AGWAONYE

I am trying to see things from the perspective of the suffering civil servants who must have piled up debts for themselves to ensure their families survive in the hope that their rightful earning would be paid in due time. Else, I would have said Buhari should wash his hands off the struggling states and charge them to internally source the monies themselves.

Maybe that would force some of these non-thinking governors to use their brains to come up with initiatives that will generate revenue for their states. It is appalling that more than half of the states in the country are owing their workers salary and families are the ones bearing the brunt. As things stand, I will plead with Buhari to wade in and make the banks release the monies, though they have every right to withhold them.


 ‘I think the bail-out package is commendable’ -BARRISTER VINE IKOKWU

The huge debt owed by the states is worrisome and I think the bail-out package is commendable.

But the finances of the states should be monitored effectively.

The debtor states should use the funds judiciously and strictly for the purpose the loan was obtained.


‘The bailout is not necessary’ -REV KALU UKPAI

The bailout is not necessary. The states should have been allowed to suffer what they caused through massive corruption.

My stand is every debtor state or individual must pay.


‘They should just pity the suffering workers’ -OBI NWACHUKWU

What the banks did was not in order at all. After all, I don’t think there was any bilateral agreement between any of the states and the creditor banks that the money owing the banks will be paid with the bailout loan from the Federal Government.

The bailout signed by President Buhari was purposely to save the states owing their workers some months’ salaries from further disgrace. Now, the action of the banks withholding such money is condemnable. Federal Government should order them to release the fund to the appropriate states with immediate effectively. They should just pity the suffering workers.


‘The Federal Government should intervene’ -OGUNLANA WASIU

When we heard of bailout for the states owing their workers, we’re all happy hoping things will be better soon for the civil servants in those states, not knowing they will still be back to square one. Now, what’s the essence of the money signed by the Federal Government for that purpose when such an amount doesn’t get to the expected destination?

I think to help the states out of the mess, the Federal Government should intervene again by mandating all banks sitting on the bailout fund to release it to the appropriate state governors without any further delay. After which they will now agree on how to pay back the loan sought from such banks.

Related Stories:



About the Author