Assembly Approves Wike’s ₦10billion Loan After Amaechi Allegedly Left Empty Treasury

The Rivers State House of Assembly, yeterday June 11, approved a loan of ₦10 billion requested by the State Governor, Nyesom Wike. The state governor had sent a letter to the House of Assembly asking that he should be granted approval to secure the loan that would be used to fund some major projects in the state.
28 lawmakers voted in favour of the approval.

Speaker of the House, Mr. Ikuinyi Ibani, in his remark, explained that it would be difficult for any government to survive without funds to operate.

Ibani, who pointed that the House would not be involved in frivolous approvals, added that the state legislature would endorse transparent and sincere requests that would benefit the people of the state.

Explaining that the immediate past administration left an empty treasury, the Speaker disclosed that the loan would be taken from Zenith Bank and repaid through Valued Added Tax.

- Punch.