Enugu Assembly secretly approves Chime’s N11bn loan request

http://theadvocatengr.com/new/enugu-assembly-secretly-approves-chimes-n11bn-loan-request/


…bars Journalists from covering proceedings

MEMBERS of Enugu State House of Assembly Thursday held a secret sitting at the hallowed chambers, where it approved N11 billion loan requested by Governor Sullivan Chime, to enable his administration complete ongoing projects and also offset previous loan facility obtained from a new generation bank, which interest rate was jerked up astronomically.

The House in sitting passed a resolution that “this honorable House do resolve to authorize the state government to obtain loans of one billion naira and ten billion naira respectively from UBA Plc to re-finance facility from GTB and fund infrastructural projects in the state.”

Speaker of the House, Mr. Eugene Odo, had last week adjourned sitting till December 2, which observers believed was to prevent looming impeachment against him for crossing sword with the governor, following his formal declaration to run for governorship in 2015.

However, following the news of the emergency sitting Thursday, hordes of journalists besieged the Assembly but were prevented from entering the chambers for coverage of the proceedings.

Briefing newsmen after the secret meeting, the Deputy Leader of the House who is also the Chairman of House Committee on Information, Chief John Ukuta, said: “I can assure you it (closed door) wasn’t intentional but it is within the Standing Order of the House to us usually leave our public gallery closed or open and it has nothing to do with the sensitiveness of what was actually discussed.

“It is public knowledge now and obviously the people of Enugu State should be aware of what government is doing on their behalf. We went to move a motion for Enugu State government to obtain a loan of ten billion naira. The first one billion was for an earlier loan by government.”

Expanding his war chest.

An after though; a clear indication that he underestimated the fight.

Now bring it on.

This is how Sullivan has been ruling Enugu State. No interest in real development, just personal. No depth or vision in his programmes, just white wash and playing to the gallery.

If you read in-between the lines..." to offset previous loan facility obtained from a new generation bank, which interest rate was jerked up astronomically."

A government that could not properly service and repay N1billion loan is seeking N11bn loan, barely 6months to go. With crude oil price dropping to a 4-year low and falling, this is a callous move by Chime. Not that we have not always know that. Its just for those who saunter to this forum to defend him. With dropping monthly allocation of N3.2billion and wage bill cum overhead of over N2billion, it will take the State over 24months to repay N11bn loan sourced from a commercial bank.

Why Commercial bank loan and not bond issuance? Cluelessness of the highest order. Fools! Just making money for the banks.

And Gburugburu, the anointee; another cash and carry politician who believes that politics is trade ("afia" meaning market). He has not deemed it necessary to refute open press accusations by high-placed media houses (Leadership and Guardian) that he bribed his way into securing the failed consensus arrangement, gifting N800million house to former Chief of Staff, Ifeoma Nwobodo and helping oga to invest in shipping line.

Its a total show of shame in Enugu today.

I bet that Chime is going to face a very hard time after office, even harder than his predecessor. That is if it doesn't start before he leaves office. Securing huge loans to execute a fight against the Presidency, PDP national headquarters and his national assembly members equates to a man digging his grave.

Sorry Sulli unem

Sorry Gburugburu, your godfather/godmother are already spending the allocation you are hoping on. Soon you can't pay salaries and civil servants and Enugu people will chase you out of government house.

Sorry unem

Sorry ndi Nsukka, na una turn them dey spoil.