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Bayelsa denies plan to take N100bn bond from capital market

By Samuel Oyadongha
Yenagoa—Bayelsa State government yesterday dismissed reports that it planned to take a N100 billion bond from the capital market.

The Chief Press Secretary to the state governor, Mr. Doifie Ola, said in a statement that media reports of the loan bond smacks off reckless fictionalisation of journalism, stressing that neither the governor nor any organ of the state government has initiated any move to take any bond.

“This is a hoax. There is no iota of truth whatsoever about these reports of a N100 billion bond. The state government has planned nothing like that. Nobody has initiated any action in the state towards issuing any bond.

“The process of issuing government bond is very clear. It is an open procedure that passes through vigorous discussions at the State Executive Council and the state legislature. As yet, no such discussions have taken place.

“The idea has not even been mooted. We are astounded by this level of political debauchery and media manipulation,” Ola said.

According to the CPS, whatever the quality of sources, including a so-called Bayelsa Transparency and Transformation Vanguard that first made the allegation, the story about Governor Sylva approaching the capital market for a N100 billion loan bond is “absolutely false, misleading and fictitious”.

He expressed surprise that “on the basis of this false, misleading and fictitious story, sections of the media went ahead to seek reactions from unsuspecting Bayelsans and others who have condemned what in the first place is a criminal lie.

“Relying on this criminal lie, a few people have even called for a probe of the Sylva administration”.

Ola observed that Governor Sylva runs a transparent and open administration, and was not afraid of giving account of his stewardship to the people or the relevant organs of government whenever the need arose.

He pointed out that as proof of its commitment to transparency and accountability, Bayelsa State government was to date the only state in the Niger Delta working with the World Bank on social and infrastructural development.

“There are designated agencies and officials with authority to speak about government programmes, policies and plans, and not some politically-motivated mind-readers who have no idea about how government business is run.

“We expect the media to be more cautious in reporting stories that emanate from politicians with vested interests, as these are politically anxious times,” he said.

Ola maintained that the government of Chief Timipre Sylva was focused on a structured development of human, infrastructural and economic base of the state and will not be distracted by certain elements that have achieved notoriety for opposing every government in power in the state.

According to him, Governor Sylva’s contract with the people of Bayelsa State is to create a functional, institution-based system of governance, and an economy that is independent of oil economy.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.