BORROWING TO PAY SALARIES, VIOLATION OF FISCAL RESPONSIBILITY ACT — REMI BABALOLA

Former Minister of State for Finance, Mr. Remi Babalola, has decried the bailout program for states by the Federal Government, asking why states have to borrow to pay salaries in violation of Section 41 of the Fiscal Responsibility Act.

The former minister, disclosed this on Tuesday, during a paper presentation, entitled: “Achieving the Nigeria of Our Dream: Responsibility of Professional Accountants,” at the opening of the 45th annual conference of the Institute of Chartered Accountants of Nigeria (ICAN).
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