B-R-E-A-K-I-N-G News! Gov Rochas of Imo State Banned From Borrowing More loans. **External debt hits over N100billion in just few months. The Imo state government have been declared unfit to borrow more more money by the Nigerian Apex bank, the CBN. Few months ago, the Debt Management agencies frown at the rising debt profile of Governor Rochas Okorochas government and the apparent less ability to of the state to pay back these loans in the next 25 years. PEAK of borrowing for the state. CBN stated that Imo state is owing over 100 billion Naira and that is the reason Apex bank placed them on the No Borrowing list, meaning that they will no longer borrow from any bank in Nigeria and no approval will be given to them for external loans.
Posted on: Tue, 26 Nov 2013 06:01:48 +0000
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