Ubah Threatens Obiano over N25bn Promissory Notes Issued by DMO
A member of the Nationwide Meeting, Senator Ifeanyi Ubah, has given the Anambra state Governor, Mr Willie Obiano, a 48-hour ultimatum to clarify what he did with N25 billion promissory observe issued to the state authorities by the federal authorities by the Debt Administration Workplace (DMO).
The Younger Peoples Occasion (YPP) Senator representing Anambra South senatorial district stated failure by Obiano to provide an in depth breakdown of how the power was expended, he is not going to hesitate to strategy the courtroom of legislation to compel him to take action.
Ubah, who spoke with newsmen on the stated facility on Sunday, threatened to sue the state authorities if on the expiration of the ultimatum the governor fails to open up on the whereabouts of the stated funds.
The Debt Administration Workplace (DMO) had in December 2018 and April, 2019 issued seperate Promissory Notes to the Anambra State Authorities to the tune of N10.097 billion and N15.146 billion respectively.
The 2 Promissory notes which had been issued to settle the excellent claims for rehabilitated roads nevertheless had maturity dates of December 28, 2020 and April 1, 2022.
The Vice Chairman of the Senate committee on Petroleum (Downstream), nevertheless faulted the gathering of the cash earlier than the maturity dates.
He alleged that forward of the maturity dates of the promissory notes, Governor Obiano, had discounted the 2 Promissory notes and picked up solely N16 billion as an alternative of the N25 billion, a state of affairs he claimed made the state to lose the sum of N9 billion.
Based on him, the N25 billion in query was for works carried out by Ex-Governors Chris Ngige and Peter Obi by way of infrastructural improvement on behalf of the Federal Authorities.
Ubah, subsequently, requested: “Why did Obiano low cost Anambra cash. What did he do with the money realised? Why didn’t Obiano seize this within the funds he offered for the 12 months?
“Why did he withdraw future state funds which he didn’t work for? Why would Obiano, a banker, throw away eight billion Naira and the place is the steadiness now deployed to”.
In the meantime, the State Commissioner for Data and Public Enlightenment, Mr C. Don Adinuba, had in an announcement final week, defined that the promissory notes had been by no means secret.
He stated the reimbursement was even really helpful by the Senate after a public listening to on the money owed owed the state for the street rehabilitation and reconstruction executed on behalf of the federal authorities.
Based on Adinuba, “Given the truth that the Federal Ministry of Finance didn’t have the money to settle the money owed, it opted for promissory notes”. Thisdaylive
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