Saturday, May 21, 2022

3 Months To Go, Gov Obiano Secures Approval to Borrow 18.2 Billion Naira

Published:

… as opposition House members kick against it.

AIF Media

With about 3 months to complete his tenure and handover to his successor on March 17, 2022, the outgoing governor of Anambra state, His Excellency, Willie Obiano has gotten the approval of the state house of Assembly to borrow about 18.2 billion naira.

The state assembly led by Hon Uche Okafor gave the approval yesterday during the plenary. But AIF Media investigation reveals that not all the House members supported the approval.

Before the plenary, some house members especially those from the opposition advised the Speaker to stand down the request, arguing that with 3 months to end the tenure of the incumbent, it will be against public interest to grant the governor an approval to borrow a whooping sum of 18.2 billion naira. But the Speaker refused to take their advice.

When the motion for loan request was put to voice vote, majority of the members chorused “nay” but the Speaker hit the gravel and said that the “yes” have it and granted the request.

From AIF Media investigation the loan will come in batches. The financial institution will release the 18.2 billion naira in batches on monthly basis until it is completed.

Some of the House members who spoke to AIF Media said the Speaker should be held responsible should the 18.2 billion naira be misappropriated by the outgoing administration.

It is not clear what the governor wants to do with the 18.2 billion naira loan with 3 months to leave office as executive governor of Anambra state.

AIF Media

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