N17B Paris Club Loan Disappears

Posted by admin Headlines, Nasarawa, State News Saturday, June 2nd, 2012

Democracy Day in Nasarawa State turned into a day of lamentation for the state governor, Alhaji Umaru Tanko Al’Makura, who expressed frustration over payment of N17 billion Paris Club loan his government never took.

The governor said since he took over power a year ago, he has been battling with triple tragedy of having to offset a huge debt of N30 billion left by his predecessor, in addition to refunding the sum of $240 million taken years ago by a former governor of the state.

He made this known in Lafia when addressing stakeholders in the state on Democracy Day anniversary, lamenting that a huge loan of N17 billion taken by former government of the state disappeared without a trace, leaving him to pay the debt which he never incurred.

He said the sum, amounting to $113 million was assessed, received, banked and eventually disappeared with no trace under the watchful eyes of a government headed by Alhaji Akwe Doma.

The money, he said, just disappeared without any trace, adding, “There was no record of expenditure by anyone, there was no legislation backing any spending of it and there was no project sited anywhere in the state in the name of the money.

Al’Makura said, so far, his government had lost the sum of N2.3 billion to the fictitious debt, while making conscious efforts to contain excess spending in the state.

Al’Makura stated further that the allocation from the Federal Government due to the state has continued to witness consistent decline from February 2012, notwithstanding the huge debt profile hanging on the neck of the state.

According to him, his administration has been managing the finances of the state without borrowing a penny from any bank, while ensuring payment of workers’ salaries as and when due.

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