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Akwa Ibom makes major savings

17 February 2014, 08:29Augustine Osayande

Abuja - The Akwa Ibom State Government has saved more than N254 million from salary payment between January and December 2013 following series of verification exercises by the Funds Monitoring Unit of the Ministry of Finance.

State Permanent Secretary Ministry of Finance, Nse Ekefre, confirmed the savings.

“N110 Million was recovered from ministries and departments, N150 million from parastatals and N28 million from Local Education Authorities and State Universal Basic Education Board (SUBEB),” he said.

Ekefre also announced that the Finance  Ministry had paid more than N29 million as loan to civil servants through the staff housing loan scheme and completed about 47 urban roads and five water supply projects in some communities in the state.

The Permanent Secretary said the ministry had realized an investment income of more than N82 million while the total market value of the Ministry’s Investment Equity Portfolios in Companies stood at N4,2 billion as at 31st December 2014.

Ekefre said more than N36 million have so far been recovered from beneficiaries of the State Micro Credit Scheme and assured that the Ministry’s ICT centre would be strengthened for more productive service.

The official said the state government intended to acquire rights issues in companies in which government have substantial investments and give loans to workers as well as grant housing loan of N1 million each to about 150 beneficiaries.

– CAJ News

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