Nigeria News

Assembly Crisis: Ebonyi Speaker Stops Elechi’s N15bn Bond Proposal

 The crisis in Ebonyi State House of Assembly took a new dimension on Thursday, as the embattled Speaker, Chukwuma Nwazunku, formally petitioned President Goodluck Jonathan to withhold approval of the present N15 billion bond applied for by the state government pending when the assembly would be properly briefed on the use and performance of the earlier N16.5 billion bond.

In a letter dated November 10, addressed to the president, which was released to THISDAY in Abakaliki, Nwazunku noted that the assembly was yet to be properly briefed on the use and performance of the previous bond obtained by the state government.

The speaker urged the president to withhold the approval of the second bond which the state government  applied for pending when their relevant committee is properly briefed on the use of the first bond when the assembly reconvenes from its recess on December 15.

He recalled that the state government had in the year 2010 obtained a bond of N16.5 billion from the capital market for the purpose of financing certain capital projects in the state which was also captured in the new bond.

According to him, “Since our approval of the first bond, certain revelations have come to light to warrant keeping the second bond application in view, pending a proper detailed briefing of the assembly on the use of the first bond.

“It does not appear as if the first bond has been properly used in view of the fact that the target projects the bond was meant for was scarcely attended to, to the extent that even in the next one year, the projects will never be completed.

“In view of the fact that the target projects for the first bond obtained will still take over one year to complete, and in view also that the tenure of the present administration will be rounding off in the next six months.”

He added: “We respectfully invite your Excellency to graciously withhold your kind approval of the second bond which the Ebonyi State government applied for, pending when the relevant committee is properly briefed on the use of the first bond when the House reconvenes from its recess on December 15.”

Leave a Reply

Your email address will not be published. Required fields are marked *