“Imo Is Broke, We Can’t Pay Salaries” – Governor Rochas Okorocha
IMO State Governor, Rochas Okorocha, yesterday revealed that the state is insolvent , as its monthly wage bill has exceeded its month to month statutory allocation from the Federal Government. The representative said month to month overhauling of the bailout fund has further exacerbated the circumstance.
This was just as he repeated that there was no going back on the state government's choice to concession the administration of parastatals. Okorocha, who uncovered this when he spoke to newsmen at the Government House in Owerri said the monthly wage of the state had dependably been higher than what the state gets from federal allocations and internally generated revenue.