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No plans to secure N50bn bond, says Delta govt

Delta State Government has denied media reports that it was about to secure a N50 billion bond with just about two months to the terminal date of the administration.

The state Commissioner for Information, Mr Chike Ogeah, in a statement, yesterday, said: “The attention of the Delta State Government has been drawn to false reports in a section of the online media alleging that a N50 billion bond was about being drawn with just about two months to the terminal date of the administration.

“The most bizzare of the reports by one Fejiro Oliver of Secret Reporters claimed that ‘over N40 billion will be diverted to private pockets as farewell gifts for loyal aides’ while the balance will be used to bribe officials of the Securities and Exchange Commission, SEC and banks.

“There is absolutely no truth in the allegation that the governor of Delta State, Dr. Emmanuel Uduaghan, is seeking another N50 billion bond from the capital market. There is no such plan and no move has been initiated to that effect.

“It is our contention that in his morbid haste to portray the administration of Uduaghan in poor light, the author displayed total ignorance of the workings of the capital market or genuinely lacked adequate knowledge to distinguish between an executed bond and a tranche that was not taken.”















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