The PDP Youth Frontier has issued a stern warning to commercial banks in Kogi State to stop granting loans to Governor Yayaya Bello.
Addressing newsmen in Wadata Plaza, Wuse Zone 5 Abuja yesterday, the PDP Youth said any banks that ignore the warning is working against the interests of the State.
According to Usman Okai Austin, Gov Bello had in the 4 months of his administration, wasted an initial N700 million Ecological Fund left in Zenith Bank. Also, the total sum of 10 Billion Naira allocation for the months of December, January, February and March has been squandered without a trace .
The present administration in Lugard House is yet to constitute its cabinet, and the resolution of the State Executive Council is a prerequisite for any banks to grant loans to states across the federation and Kogi State is not exempted. Furthermore, the State House of Assembly must approve loans before any bank can grant it. It therefore implies that Kogi State without both House of Assembly and State Executive Council cannot obtain bank loans.
The PDP Youth questioned the rationale behind the approval of the loan by the Zenith Bank without approval from the State House of Assembly and the Council which both are in non-existent for now. It should be put on record that the Special Adviser on Commerce and Industry is not known to law and can never serve as the State Executive Council. We have it on a good authority that the Governor is hidden under the Millennium Development Goal MDG to seek for this loan .
Kogi State is presently faced with grievous financial challenges ranging from liquidity concern, poor internally generated revenue to a low state sustainability index among others. Instead of the governor to be innovative in resolving these myriad of problems, he has embarked on politics of bitterness and rancor as we have today in the House of Assembly. It is most unfortunate in this ‘Change Government’.
Gov Bello was warned from running the State as a cartel and begin to manage the State as a government that responds to the yearnings and aspirations of the people.