Re:: Kogi Again, Yahaya Bello Goes For Another N18 Billion loan, State Assembly Secretly Approved The Loan In Speaker Lodge

Re:: Kogi Again, Yahaya Bello Goes For Another N18 Billion loan, State Assembly Secretly Approved The Loan In Speaker Lodge

***Another lame attempt to deceive the publicĀ 

Tuesday 19th October, 2021

Rejoinder

Our attention has  been drawn to a malicious news item published by one online blog, Observerstimes.com orchestrated to incite the general public and indeed Kogites against the Kogi State Government, Governor Yahaya Bello and Kogi State House of Assembly on the federal government loan facility granted to the 36 states as part of a deliberate policy to ameliorate the effects of COVID-19 pandemic in the country.

We would have not bothered to dignify the publication with any response but to keep the unsuspected reading public abreast of the true position of things hence the rejoinder.

The fact is that the Federal Government of Nigeria as part of deliberate policies and plans to assist states to cushion the effects of COVID-19 pandemic in their various states initiated and approved the loan facility to support state governments.

In line with the laid down procedure, each of the State Houses of Assembly across the country must approve the loan which has over thirty years plan for repayment before it can be accessed hence the Kogi State House of Assembly under Rt. Hon. (Prince) Matthew Kolawole in discharging its constitutional responsibility gave the facility the needed legal backing for the state to access its fund that will enable the state to meet up with some of its financial obligations.

President Muhammadu Buhari approved the bridge facility for all the 36 states of the Federation and it will be accessed from the Central Bank of Nigeria, CBN

The facility was meant to give support to States following the resumption of monthly deductions for the repayment of their various loan facilities.

It will be recalled that the Federal Government had earlier suspended the monthly repayment of the loan facilities by States due to the effects of Covid-19 pandemic.

The N18.7bn which will be disbursed in six tranches (6months instalment) of N3.1bn each is expected to be repaid monthly for 30years (360 months).

From the above analysis, it is evidently clear that Observerstimes.com does not have information of what is really happening in an environment it claimed to be operating in, or it is being mischievous to mislead the reading public.

Speaker Matthew Kolawole has continued to reiterate the determination and commitment of the 7th assembly under his watch to continue to partner with relevant stakeholders to make laws that will continue to promote good governance of the state, urging people in Observerstimes.com to turn a new leave position and support the good works of the current administration led by Governor Yahaya Bello in the state.

Signed:
Femi Olugbemi,
Chief Press Secretary to the Honourable Speaker, Kogi State House of Assembly

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