The presidency has asked 35 state governments who received bail out funds to set for refund.
Finance and National Planning Minister, Mrs Zainab Ahmed, puts the bail out fund that will be refunded at n614 billion.
The Minister made this known, while addressing the state house correspondents at the end of the meeting of the National Economic Council at the Presidential Villa, Abuja.
Each of the 35 state governments, according to the minister, received n17.5 billion from the bail out funds.
At the Thursday meeting, the Economic Council set up a committee to finalize the modalities for the loan repayment.
The Minister says the committee made up of state governors are to meet her and the Governor of the Central Bank of Nigeria.