By Munachimso Obienyi
Nigerian Governors have warned that given the constant reductions in FAAC Allocation to states, it would be suicidal if the Central Bank of Nigeria (CBN) goes ahead to carry out its proposed recovery of state loans.
In reaction to the warning, the National Economic Council (NEC) said it will negotiate with the CBN and the Finance Ministry on loan recovery.
The developments were disclosed by Governor David Umahi of Ebonyi State after a virtual NEC meeting presided over by Vice President Yemi Osinbajo on Thursday at the Presidential Villa, Abuja.
The Governor added that NEC also agreed to set up a committee to engage the CBN governor and the Finance Minister.
He revealed that the NEC also endorsed the reviewed National Social Protection Policy ( NSPP) by the Minister of Finance, Budget and National Planning, Zainab Ahmed.
