Fintiri lied on Adamawa debt profile -Govt Adamawa State Government has said the actual debt profile of the state government as of July 15, 2014 was N7,680,302,692.88 and not N12.8bn as earlier claimed by the sacked Acting Governor Ahmadu Fintiri during his world press conference on his stewardship to the state. The Director, Public Affairs, Government House, Yola, Mr. Phineas Elisha, who reacted on behalf of the state government on Wednesday, also explained that the state government paid N462,3m as a monthly repayment on its loans against the N1bn Fintiri said the state had been paying on its debt obligations. Elisha, who said the state government was not holding brief for the bank, added, “The claim of over N11bn bank interest and other charges with a loss of N7bn on bank charges alone, made by the acting Governor is frivolous, unrealistic and cannot be ascertained, as he neither stated the total amount borrowed nor for how long the funds were utilised.” Elisha, who is a chartered accountant, noted that the claim by Fintiri that during his short tenure, the government saved N2bn on reviewed interest rate from 22 to 16 per cent on N12.8bn and N400m interest free moratorium, was a misguided information by consultants appointed by Fintiri to justify the colossal fee of N262m paid to the consultant.
Posted on: Wed, 19 Nov 2014 21:02:32 +0000
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