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SALARY BAILOUT FACILITY
Not less than 31 state governments in Nigeria borrowed N457.17 billion to pay salaries to their respective state civil service workers. This borrowing was facilitated through the Salary Bailout Facility (SBF), an intervention by the CBN.
At least 31 state governments in Nigeria have collectively borrowed N457.17 billion to pay salaries to their respective state civil services. This significant financial move was facilitated through the Salary Bailout Facility (SBF), a strategic intervention by the Central Bank of Nigeria (CBN) aimed at alleviating the fiscal pressures faced by these states.