AFTERMATH OF GOV WIKE’s REVELATION: OBA ALLEGES GOV UDOM DISCOUNTS $664M (N248BILLION) OF 13% DERIVATION ARREARS REFUND

* PAYS N56BILLION ON OUTRAGEOUS COMMISSION AND FEES.

The governorship candidate of the Young Progressives Party (YPP) has challenged the governor of Akwa Ibom State, Udom Emmanuel to dare respond to his allegations of financial stewardship and he will proof his facts.

He made this remark while on the YPP ward-to-ward governorship campaign in Ikpa Ikono, Mkpat Enin Local Government Area of Akwa Ibom State, on November 24, 2022.

He stated that the governor, last week, hurriedly went to a commercial bank to obtain a receivable discounting facility of N248 billion (ie equivalent of $664m) and offered to pay out N56billion on commission and fees on the transaction, so as to subject the state and successive government into a perpetual debt burden.

OBA stated that this was the same structure the governor used in July 2021 when he obtained the same Receivable Discounting facility from First Bank PLC in the sum of N104Billion for 30months at 9% with a face value repayment sum of N123billion . “However, upon receipt of the sum of N171 Billion trance of the 13% Derivation payment from the Federal Government, which should have been used to defray the outstanding on the facility with First Bank, so how come the state is still indebted to First Bank to the tune of N78 Billion? I stand to be challenged and corrected”, he stated.

“If Governor Udom Emmanuel denies this truth, I am ready to prove it with full documentations. Our people deserve to know about the state of their finances and not taken for granted by a government they voted for and entrusted with their patrimony .

"I had stated earlier that he received N280 billion which was collaborated by Governor Nwike’s revelation. With Gov Wike’s development strides in Rivers state due to the impact of the said derivation refunds, what do we have to show in Akwa ibom state? Let me assure our people that we will restore fiscal discipline, transparency and accountability in governance from May 2023 by the grace of God”, he added.

OBA accused the governor of betraying the trust and confidence of the people who voted him into office and thereafter using the weapons of hunger, poverty and starvation to keep everyone silenced .

According to him, evidence abound in Rivers State to show the impact of this derivation refunds in the state. “But what do we have to show in Akwa ibom state? I assure our people that I will always be the voice to the voiceless and the mouthpiece to the weak”, the senator submitted

Udom is wise, he will not give you space.

Cool

Watch what these mumu boys did to tinubu

https://www.youtube.com/watch?v=qqgi5JBWdrw