News
Delta not seeking N100bn Loan – State Govt
The Delta State Government has declared that the government is not seeking a new N100 billion loan, saying that such report is misinformation.
The Commissioner for Finance, Fidelis Tilije, in a statement, noted that the state government had secured approval from the State House of Assembly to obtain N150 billion in bridging finance. The commissioner said that the fund was later reduced to N100 billion after discussions with finance houses.
The commissioner said that a new leading finance agent emerged and following Governor Ifeanyi Okowa’s adherence to what he described as the proper procedure, the government sought fresh approval from the House of Assembly.
He emphasised that the N100 billion discounting facility is the same amount previously discussed, saying the state government went back to the House of Assembly to change the lead bank.
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