News

July 10, 2019

Opposition kicks as House okays N5bn loan for Ayade

Governor Ben Ayade

By Ike Uchechukwu

CALABAR—Mixed reactions have trailed the approval of N5 billion loan by Cross River State House of Assembly from FirstBank of Nigeria Plc.

Ayade

Governor Ben Ayade

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Vanguard gathered that the House gave the approval following a motion moved by the Leader, Mr  Peter Odey and seconded by his Deputy, Mr. Fred Osim, after deliberating on a letter  by Dr Innocent Eteng,  Permanent Secretary Governor’s Office, which conveyed the governor’s request to the Assembly to access the loan.

The request was contained in a  letter which  indicated that the state government; “has been unable to meet its financial obligations with respect to payment of pension and other unforeseen obligations due to paucity of funds and dwindling statutory allocation from the Federal Government.

Reacting to the approval, Mr Cletus Obun, State Vice Chairman, All Progressives Congress, APC, Central senatorial district, said it was the most irresponsible thing to do at a time when the Federal Government had already disbursed bail out/Paris refund money to various states for the purpose of paying pension and more.