Nigeria News

NIGERIA: Ebonyi APC Flays Elechi over N15bn Bond Proposal

The All Progressives Congress, APC, Ebonyi State chapter has condemned in strong terms, another N15 billion bond being proposed by the State Governor,  Martin Elechi from the capital market.
 
The party argued that taking another loan in the twilight of this administration, with barely a year to end was an attempt to strangle the State financially and economically.
 
In a communiqué issued at the end of its stakeholders meeting in Abakaliki, which was made available to newsmen, the party contended that Elechi- led administration was the worst thing that has happened to the state.
 
It noted,  “no identifiable achievement in the last seven years yet the debt owed by this government is unprecedented in the history of this state and any further loan will simply mortgage the future of Ebonyians”.
 
“We wish to serve notice to the Nigerian Stock Exchange and the banks that should they go ahead and execute this loan facility, the incoming administration will not bear the burden of repayment because Ebonyians are tired of being in perpetual bondage”.
 
The party lamented that it was in the name of the same white elephant projects in which the first N16.5billion bond was procured in 2010 that the new bond was being targeted.
 
APC also alleged that the bond issue is being proposed for the purposes of executing the 2015 general election by the State Government in favour of the People’s Democratic Party PDP candidates.
 
The party called on Ebonyians to accept and embrace the wind of change of APC, promising that “APC will change the fortune of the state and take Ebonyians out of long suffering and bondage which the present government has brought upon them”.

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