Wednesday, July 11, 2012

N17billion Paris Club Loan Disappears –Governor

"There was no record of expenditure by anyone, there was no legislation backing any spending of it and there was no project sited anywhere in the state in the name of the money."

Those were the words of Gov. Umaru Tanko Al’Makura of Nasarawa State on Democracy Day while exposing the rot that he inherited from the PDP government. He said he's now repaying a N17 billion Paris Club loan that the people of the state never enjoyed.
The governor said since he took over office a year ago, he has also been battling with how to offset a huge debt of N30 billion left by his predecessor, in addition to refunding the sum of $240 million taken years ago by a former governor of the state.

He said the loan, amounting to $113 million was assessed, received, banked and disappeared with no trace under the watchful eyes of a government headed by Alhaji Akwe Doma. Governor Al’Makura said, so far, his government had lost the sum of N2.3 billion to the fictitious debt.

He disclosed that despite the challenges, his administration has never borrowed a penny from any bank, while ensuring payment of workers’ salaries as and when due.

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