The Rivers State House of Assembly, RSHA has approved the request by Governor Rotimi Amaechi to re-finance a loan of N5.9 billion currently being serviced by Guarantee Trust Bank.

Speaker of the House, Otelemaba Dan Amachree who read the request letter from the state Governor, Rotimi Amaechi said the Rivers State government intends to do the transaction with the Bank due to the leverages they offer.

Dan-Amachree said the transaction would also ease the financial burden on the state government and improve the social status of the state.

Amachree read that, “There is a letter from His Excellency to us and it states that the Rt. Hon. Speaker may inform you of my intention to re-finance a loan of N5.9 billion only currently with Guarantee Trust Bank”.

Leader of the House, Chidi Lloyd, who spoke on behalf of the Lawmakers said financial institutions in the country were scuttling to do business with the state government because of the transparency of Governor Amaechi.

Lloyd also said the request from the Governor was not a new loan, adding that the State government had repaid up to 90% of its initial loan of N40 billion.

“We are not approving a new loan. The letter is self-explanatory. We had sometimes in 2013 approved a loan of N40b for the state and the state government has been up and doing in the repayment of any approved loan.

“So between 2013 and now, the Rivers state government has been able to repay over 90% of the loan which was approved”, he said.
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The House committed the Governor’s request to an adhoc committee.

Barely 3months to the general elections. I suspect this loan is solely for the purpose of the elections,otherwise what would prompt an outgoing administration to plunge it's state into another debt.

no matter what u say ....no matter how u spoil his name
....Ameachi remains rivers best governor ever.....

JANK23H:
Barely 3months to the general elections. I suspect this loan is solely for the purpose of the elections,otherwise what would prompt an outgoing administration to plunge it's state into another debt.

I bet you were still feeding through your momma's placenta when Jonathan secured a billion dollars in loan, amongst others he received for the so called rail transformation.

Yeye dey ooze.