The Central Bank of Nigeria has fixed a tenor of 20 years for the repayment of bailout funds given to 27 states of the federation to offset workers' salary arrears.
However, Ogun State which accessed 18.9 billion naira opted for a tenor of 10 years.
The apex bank's spokesman, Ibrahim Muazu said that the National Economic Council has approved its decision.
According to the CBN Governor, Godwin Emefiele, 18 states have so far accessed the bailout funds. They include Kwara, Zamfara, Osun, Niger, Bauchi, Gombe, Abia, Adamawa, Ondo, Kebbi, Ekiti, Imo, Ebonyi, Ogun, Plateau, Nassarawa, Sokoto, Edo and Oyo.
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