Nigeria’s cash flow woes appear to be worsening. For the second month in a row, the Nigerian government was unable to meet the schedule for disbursing monthly allocations from the federation account to states.
The Federal Ministry of Finance has paid March monthly allocations only to some states. The allocations for April and May 2012 remain unpaid. Many civil servants and National Youth Corps members have yet to receive their April salaries or allowances.
Is Nigeria really broke?
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