Information just reaching our news room from a very reliable source indicates that the Abia state chapter of APGA has reached to a consensus agreement with PPA for the guber election coming up on 11th April. The APGA candidate Otti who has been having a running battle with Diamond bank lately agreed in principle to step down and support udensi while Udensi will provide funds to assist him offset his debt with Diamond Bank . Otti had approached Udensi for assistance following repeated threats by Diamond bank to drag him to EFCC if he fails to recover the Bank’s funds borrowed to Abia state government under Otti, before the end of this February. The Bank is afraid that the next government may refuse to redeem the debts if Otti fails to win the gubernatorial election as the deals were executed under questionable circumstances and without following due process.

Abia state government had on 6th February denied owing any bank but insisted that Alex Otti was heavily indebted to many banks including Diamond bank. In a swift reaction on the number of claims raised by the state APGA governorship candidate including the challenge thrown by Dr. Alex Otti on the state government to make public the debt profile of the state under the administration of Governor Orj, the state Commissioner for Information and Strategy, Dr. ACB Agbazuere, debunked the claim saying that the state was not indebted to any bank.

"Alex Otti is talking like a politician not as a banker, who is just coming up in the game of politics. He thinks that politics means lying and fabrication of stories. Abia State has no debt profile; we do not owe. If we are owing, let him tell us, Alex Otti is owing, he is owing most of the banks; Abia State is not owing,' the commissioner stated.

Abia State government is alleged to be indebted to Diamond Bank PLC to the sum of N8.5bn accruing from N500m loan granted to each of the 17 local Governments of the State. This amount is alleged to be exclusive of $250m bond given to Abia State government in 2010 by Diamond bank PLC under Otti’s watch as the managing director.

VIA Southeast reporters

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