Ebonyi Assembly approves request by Governor Umahi for N8 Billion Loan from CBN.

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Ebonyi State House of Assembly has approved the request from the State Governor, Engr. Dave Umahi, to ask for an N8 Billionloan from the Central Bank of Nigeria (CBN).The loan amount includes N4.4 billion to cover the cost worker’s salary arrears, and N2 billion for investment in rice production . Another N2 billion of the loan would be used for micro and Small Business Enterprise development.

This action followed the letters written by the Ebonyi State  governor, Dave Umahi, urging the House to approve the request. The Ebonyi law makers were unanimous in the decision during the plenary session and the Speaker, Rt. Hon. Francis Nwifuru, put the motions to vote.

 

In her support of the motion, Mrs. Maria Ude Nwachi (PPA), representing Afikpo North west, urged the state government to make sure that the requested loan is used for the purposes it was being requested for and that it does not end up in private pockets. Mrs. Nwachi said, “My mind skips when I hear about these loans for agriculture, my mind skips. The reason is that most times, the money will end up in private pockets and the people that need the money will not be able to access it”. She added, “The people will still be poor and the people who have access to it will plunder it. I am hoping that this present government will deviate from the norm by making sure the real farmers benefit from the loan.”

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