Kogites were greeted with the rude shock that Governor Godwin Emefiele of the CBN had approved the release of 50 billion naira bailout funds which were withheld since last year by the apex bank for reasons best known to them.
This decision which is coming at a time when states like Osun have become bankrupt by the bailout ‘loan’ and monthly allocations are on a downward spiral is to say the very least highly suspicious.
What makes it even more alarming is the fact that the apex bank instead of following up on the recent ICPC report that indicted many states for the diversion or misapplication of the bailout loan has decided to release even more of tax payers funds to an administration that has gained notoriety for profligacy, disregard for the rule of law and outright refusal to pay salaries under the guise of screening.
As concerned citizens and stakeholders to the Kogi project, we demand that Governor Emefiele provide answers to the following questions-
1- What has informed the sudden jolte face decision to release the sum of 50.8 billion to Kogi state to the administration of Governor Yahaya Bello?
2- How much will Kogi state have to repay every month to service the bailout debt?
3- Given the fact that Kogi has incurred more debt since the approval of the bailout fund last year- Can the state still shoulder the burden of a 50 billion naira loan?
4- it is a known fact that Governor Yahaya bello has disengaged thousands of staff since he came on board in January under the guise of screening- how come the amount being released to him has not reduced?
5- what mechanisms does the CBN governor intend to put in place to ensure that the Kogi bailout funds are used for the intended purpose and not diverted to other purposes as was done in other states?
Credit: Ehimony
