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Osun flirts with insolvency, spends 91% of FAAC servicing debt in Q1

For every N100 shared to the Osun State government as revenue allocation from the federation account (FAAC), N91 has deducted to service its debt, a pointer to how the state’s fiscal crisis has moved from bad to worse.   The southwestern state has been grappling with years of backlogs of unpaid salaries owing to what…

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