There Is No N45 Billion Naria Loan, Says Imo Assembly

UWAJUMUOGU..Speaker, Imo House of Assembly

The Imo State House of Assembly yesterday set the records straight insisting that it never authorized borrowing of N45 billion naira loans from Zenith Bank by the Executive Arm of Government.  The House also absolved the Executive saying it did not borrow any billions from any other bank.

In a release signed by the House committee Chairman Hon Acho Ihim, and made available to newsmen in Owerri, read in part ‘The truth of the matter is that at no point did the House authorize the Executive to obtain a loan N45 billion naria loan and it has since been confirmed that the Executive did not obtain any such loan from Zenith Bank or any other loan for that matter’

The House recalled that Barr. COC Akaolisa had authored a petition to the Attorney General of the Federation and Minster of Justice making spurious allegations. According to the statement, this prompted the EFCC to write to the Clerk of the House to make available to it (EFCC) a video tape of a session of the House and other supporting documents where the lawmakers approved that the executive should obtain a loan of N45 billion naira.

‘Accordingly after going through the records, the Clerk/Permanent Secretary of the House informed the EFCC operatives that there was no resolution of the Imo State House of Assembly authorizing the State Government to obtain a loan of N45 billion naria from Zenith Bank sometime in December, 2012 or at any time. As of routine, the Clerk was invited to the EFCC headquarters in Abuja for further investigations. He has since returned’ the statement added.

The House said it is stunned that a section of the media working in concert with the opposition peddled falsehood that the Clerk/Permanent secretary was arrested by the EFCC for contract scam and other insinuations.

It called on journalists to cross check their facts before publication and reiterated that only the Imo State House of Assembly has the constitutional right to approval loans and other facilities it considers will be of good governance for the people of Imo State.