• Thursday, May 23, 2024
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Don’t release outstanding N30bn bailout fund to Yahaya Bello, Kogi PDP tells CBN, FG

Yahaya Bello

Kogi State Chapter of the People’s Democratic Party (PDP) has begged the Central Bank of Nigeria (CBN) and the Federal Government not to release the N30 billion outstanding bailout fund to Kogi State government, alleging that previous intervention monies were embezzled by the governor.

This is coming on the heels of the state governor’s intensified efforts in lobbying the APC-controlled Federal Government to secure release of further N30 billion bailout.

This was contained in a press statement signed  by the State Publicity Secretary, Bode Ogunmola,  saying the question that needs to be asked is how has the governor utilised funds released to him in the past.

The party further emphasized that the state is hugely indebted and is owing workers’ salaries to the tune of 38 months after taking several intervention funds and loans from banks without any development to show for it.

“All that the administration has embarked upon is reckless looting of state resources. Any attempt to compromise by the CBN, would be a great disservice to the suffering people of Kogi State.

“The bailout itself is not a free fund; the money is a loan that will be paid back over a period of time with 9percent interest. Any government that prides itself in probity will ask questions of how past releases were utilised before committing Kogi State into further debt.”

PDP noted it is not against paying workers their entitlements, but called on the CBN to heed to their earlier suggestion to initiate moves and probe past utilisation of earlier releases and make arrangements to pay workers directly.

“Any further release to Governor Yahaya Bello would amount to a disservice to the poverty-stricken workers of Kogi State. The government is financially reckless, with penchant for looting state resources and has the penchant not to pay salaries.

“We asked the CBN to pay Kogi workers directly. Any attempt to release the balance of bailout to Governor Bello, would amount to giving him his pay-off, because the government has been rejected and would be voted out in November.”


Victoria Nnakaike, Lokoja