Kogi approves N2.1b counterpart fund to access backlog of UBEC funds

Posted by News Express | 7 August 2015 | 3,103 times

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The Kogi State Government has approved payment of N2.1 billion counterpart fund to the Universal Basic Education Commission (UBEC) in order to access the backlog of UBE funds for 2013, 2014 and 2015.

The state's Commissioner for Information, Mrs. Zainab Okino, made this known in a statement in Lokoja on Thursday.

She said the facility would be exclusively devoted to financing some UBE projects spread across the state, saying it was the belief of the government that the move would fast track the development of the basic education sector.

She added that the decision to pay the money was taken during the weekly executive council meeting presided over by Governor Idris Wada, who would in turn convey the decision to the state house of assembly for concurrent resolution.

“The Commissioner for finance and economic development has been directed to conclude negotiations that will lead to the financing agreement of the counterpart fund to enable the state to access the accumulated UBE fund.” (NAN)

•Photo shows Gov. Wada


Source: News Express

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