Hide story Yebufura Abanze Tonbara > SAYELBA STILL ON THE N40B LOAN: ...bayelsa State Strategic Development Project account with UBA domiciled in Yenagoa with Account Number 1016076344. This account is dedicated to funding strategic investments in infrastructural development, agriculture, tourism, education, health and security. Our target is to build up these reserves to enable the award of contracts in compliance with applicable statutes on fiscal responsibility which require that contractual commitments by government should have adequate funding provided.---Gov. Dickson As at April 2012 the balance in the aforementioned account was N10 billion. So for more than two years now the reserves in this account must have risen 10x. Now why borrow N40b to finance the airport project, when we have billions in this account? NB: This account is different from the compulsory savings account (CSA).
Posted on: Sat, 19 Jul 2014 19:12:01 +0000
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