Zamfara Government Refutes DMO's Report Claiming N14.26 Billion Borrowing
THE Zamfara State government has denied the findings of the Debt Management Office (DMO) report claiming that it borrowed N14.26 billion.
According to a media outlet, the most recent sub-national debt external and domestic debts were released by DMO on June 30 and December 30, 2023, respectively. Of these, Plateau received N16.32 billion, Rivers borrowed N7.07 billion, Zamfara State borrowed N14.26 billion, and the Federal Capital Territory, led by Nyesom Wike, borrowed N6.75 billion from domestic creditors.
The report further stated that “Benue, Cross Rivers, Katsina, Niger, Plateau, Rivers, Zamfara, and the Federal Capital Territory, got N115.57 billion from domestic creditors.”
The state government issued a statement refuting the report: “We would like to clarify the Debt Management Office report that the Zamfara State Government borrowed N14.26 billion.
“Zamfara State Government has never applied for loans or approached the state assembly or National Assembly for such a request.
“It is important to note that the previous Zamfara State Government floated a N20 billion bond but failed to collect the total amount.
“The immediate past government received N4 billion out of the 20 billion loans requested for the Zamfara cargo airport project, though the funds were not utilised.”
The declaration went on: “Upon assuming office, we discovered that the payment terms made terminating the bond impossible without incurring a significant loss for the state.
“The balance of N16 billion out of the N20 billion borrowed by the past administration is the N14.26 billion captured by the Debt Management Office. The value is reduced due to inflation.
“The bond balance, which is still in a government account, has not been used and will be reserved for the airport project.”
No comments:
Leave comment here