June 12, 2024

Governor of Taraba

Prominent Taraba indigenes have frowned at Governor Agbu Kefas’ move to secure N206 billion in loans from commercial banks.

Abdullahi Usman, an economic analyst, who alleged that the proposed loan violates laws guiding the process of loan application by the various tiers of government, urged the leadership of the Central Bank of Nigeria to halt the move.

In a petition written to the acting governor of the CBN, Folashodun Shonubi, he urged the apex bank to instruct commercial banks against granting the loan.

“If the CBN governor does not urgently wade into this matter, the state will be thrown into a perpetual state of abject poverty.

“The state will also be saddled with an excruciating debt burden and an inability to meet its financial obligations, which will impact negatively on the capacity of the state to remain a viable entity,” the petition read in part.

“They should also present limitation of use of commercial bank loans to fund capital expenditures and state budgets and finally, restriction of all loan facilities to Taraba until after the final determination of the ongoing gubernatorial litigation by the Supreme Court,” Usman added.

Responding, the state government, through the Special Adviser to the Governor on Media and Digital Communications, Emmanuel Bello, said his principal followed due process.

He said enemies of the government were behind the calls and had no right to ask the CBN to block the loan.

“Why will he be petitioning the Central Bank of Nigeria (CBN) over loans to be sourced from commercial banks? Can the apex bank block loans that commercial banks seek to give?” Bello asked.

Inside Arewa recalls that members of the state House of Assembly recently approved the loans from some selected commercial banks to execute projects that would positively impact the lives of its citizens.

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