We didn’t borrow money from Islamic bank –Anambra govt

Posted by admin Anambra, Headlines, State News Friday, July 22nd, 2011

Anambra State Government has debunked the statement by CBN governor that it was the first state to borrow money from the non-interest bank.
Speaking through its Commissioner for Finance, Mr. Eze Echesi, yesterday, inAwka, the Peter Obi-led administration stated that it has not borrowed funds from any financial institution.

But giving insight into how Anambra may have been linked with the Islamic bank, Echesi said there were certain programmes embarked upon by the state government, which included control of malaria and HIV, which states execute in partnership with the Federal Government.
He disclosed that at present, three states – Anambra, Yobe and Gombe – are collaborating with the Federal government on a food security programme.
“In cases like this, the Federal Government sources the money from financial institutions in the country or from outside.

“In the case of the food security project, the Federal Government is supporting us and it is at their discretion to source money from any source. But the agreement is essentially between the bank and the Federal Government; states are secondary in such matters.
“To construe this to mean that the state government has taken a loan from Islamic bank is a misrepresentation. It is misleading. Anambra is only a beneficiary through the Federal Government’s support of the state’s programme,” the commissioner stated.

-Sunwp_posts