APC Flays Elechi Over N15bn Bond The Ebonyi State chapter of the All Progressives Congress (APC,)yesterday condemned the N15 billion bond which Governor Martin Elechi proposes to raise from the capital market. The party said that taking another loan in the twilight of his administration was an attempt to strangle the state financially and economically. In a communiqué by the party’s interim state Chairman, Emerike Orji, issued at the end of its stakeholders meeting in Abakaliki, the party contended that Elechi’s administration was the worst thing that has happened to the state. According to the APC, “no identifiable achievement was recorded in the last seven years yet the debt profile of the state is unprecedented in the history of this state and any further loan will simply mortgage the future of Ebonyians. “We wish to serve notice to the Nigerian Stock Exchange and the banks that should they go ahead and execute this loan facility, the incoming administration will not bear the burden of repayment because Ebonyians are tired of being in perpetual bondage”. The party further noted that “it was in the name of the same white elephant projects for which the first N16.5 billion bond was procured in 2010 that the new bond is being targeted.” APC also alleged that Elechi would use the bond to support the Peoples Democratic Party candidates in the 2015 general elections.
Posted on: Sat, 22 Mar 2014 12:28:06 +0000
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