Kogi Speaker Clears The Air on N18.7Billion Loan

 Kogi Speaker Clears The Air on N18.7Billion Loan

The Speaker of Kogi State House of Assembly, Prince Mathew Kolawole has cleared the air on the alleged N18.7 Billion loan that was secretly approved for the Kogi state government.

DAILY POST reports that the speaker has explained why the 7th Assembly approved the N18.7Billion loan sent to the House by Governor Yahaya Bello.

According to Kolawole, the news stating that the amount was secretly approved in his lodge and not in the state house of assembly is false.

DAILY POST reveals that the speaker said this through his Chief Press Secretary, Femi Olugbemi, on Tuesday.

According to the speaker, such a false report was orchestrated to incite the general public and indeed Kogites against the Kogi State Government, Governor Yahaya Bello, and the Kogi State House of Assembly.

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DAILY POST reports that Kolawole said, “the fact is that the Federal Government of Nigeria as part of deliberate policies and plans to assist states to cushion the effects of COVID-19 pandemic in their various states initiated and approved the loan facility to support state governments. Information Guide Nigeria

“In line with the laid down procedure, each of the State Houses of Assembly across the country must approve the loan which has over thirty years plan for repayment before it can be accessed hence the Kogi State House of Assembly under Rt. Hon. (Prince) Matthew Kolawole in discharging its constitutional responsibility gave the facility the needed legal backing for the state to access its fund that will enable the state to meet up with some of its financial obligations.

“President Muhammadu Buhari approved the bridge facility for all the 36 states of the Federation and it will be accessed from the Central Bank of Nigeria, CBN.

“The facility was meant to give support to States following the resumption of monthly deductions for the repayment of their various loan facilities. Jamb Result

“It will be recalled that the Federal Government had earlier suspended the monthly repayment of the loan facilities by States due to the effects of Covid-19 pandemic”.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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