N2bn SME funds: Fed.Min. of Finance sets to deduct N35m monthly from Kwara

By Ibraheem Solaudeen.

Kwara State Governor, Alhaji Abdulrahman Abdulrazaq has decried the diversion of two billion naira accessed by the previous government to boost small and medium scale businesses in the state.

The governor, who lamented that Kwara was on the verge of being crippled by corruption when he assumed office on May 29, added that the N2bn SME funds were diverted and shared by some influential persons during the previous administration.

Abdulrazaq revealed that the state government was now bound to refund the money through monthly deductions of N35m to the Federal Ministry of Finance.

He said, “I got a letter (last week) from the Federal Ministry of Finance saying they will now deduct N35m every month from our account because the state government, a few years ago, took N2bn for small and medium scale businesses.”

The governor, while speaking at a stakeholders’ forum on value reorientation and the fight against corruption in Ilorin, today, pledged his administration’s commitment in partnering the Economic and Financial Crimes Commission (EFCC) to combat graft, including the recovery of funds pilfered from the state treasury.

He reiterated his government’s zero tolerance for diversion of public funds, recalling how corruption had led to the collapse of basic amenities in the state.

One Reply to “N2bn SME funds: Fed.Min. of Finance sets to deduct N35m monthly from Kwara”

  1. May the Holy one of Israel, empower and help our amiable governor Abdulrahman Abdulrasak. We are always praying for you and your family and the very success of this state.

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