Nigeria News

APC condemns attempts by Gov. Nyesom Wike to fraudulently collect another N10bn loan

The attention of the Rivers State Chapter of All Progressives Congress, APC, has been drawn to surreptitious and illegal attempts by the annulled Rivers State Government led by Gov. Nyesom Wike to obtain another N10billion loan from banks under the false pretence of using such a loan to provide infrastructure.

This development was brought to the attention of the APC by the Rivers Progressive Forum [RPF], an organisation that pursues the advancement of Good Governance in Rivers State and the advancement of the welfare of Rivers people.

The APC is shocked that despite the outcry against the incessant borrowing by the Wike-led administration in Rivers State, this time around the governor and his people have written, pressurising banks to ‘waive all legal and regulatory provisions designed to prevent abuse of the process and the use of the State’s Monthly Excess Crude Account allocation as collateral.’ The Rivers State Government is defying all known decency in financial discipline by particularly asking the banks for a waiver of the State Fiscal Responsibility Laws amongst others.

The APC is happy that the RPF has in its possession and is about to publish copies of the ROGUE LETTERS written by the Wike government to banks requesting for the loan and pressurising them for various waivers in what the RPF refers to as ‘borrowing Rivers people into perpetual penury.’

The APC condemns this obvious act of criminality by the Rivers State Governor and his clique of co-travellers. We believe that no one will still be in doubt that the Wike administration in Rivers State is only out to defraud Rivers people of their commonwealth because this cannot be an auspicious time for a government whose existence has been annulled by the tribunal to embark on borrowing even when Federal allocations have significantly shot up since President Muhammadu Buhari assumed office.

The APC joins the Rivers Progressive Forum [RPF] to warn the Wike-led government and those who have chosen to travel this road of perfidy with them, to be conscious of the fact that they will all be held to account for the mindless fraud they have chosen to perpetrate against the good people of Rivers State as the APC joins to report this criminal collaboration to relevant agencies of the Federal Government for necessary action and prosecution of those found culpable.

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