Finance ministry recovered N57bn MDAs’ debts – Director

The Federal Ministry of Finance has recovered over N57bn from the N5.2tn debts owed by ministries, departments and agencies to the Federal Government.

The Director, Special Projects, Federal Ministry of Finance, Aisha Omar, disclosed this in Enugu on Tuesday, during a one-day workshop on the Federal Government Debt Recovery Drive, through the Project Lighthouse Programme for the South-East zone.

Declaring the event open, Omar, represented by the Deputy Director of Special Projects in the ministry, Mrs Bridget Molokwu, revealed that the debts came to the spotlight from data aggregated from over 5,000 debtors across more than 93 MDAs.

Molokwu said the ministry also received refunds from companies that failed to deliver on projects for which payment had been made.

Other refunds, according to her, were unpaid credit facilities granted to both corporate entities and individuals by the Bank of Industry and Bank of Agriculture, Judgment Debt in favour of the government and debts owed Pension Transitional Arrangement Directorate by insurance companies, amongst others

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