Kogi Speaker denies secret approval of N18.7 billion for Bello

Speaker of Kogi State House of Assembly, Rt. Hon Mathew Kolawole has reacted to media reports that the sum of N18.7 billion loan request was secretly approved for Kogi State governor, Alhaji Yahaya Bello.

The Speaker in a statement by his Chief Press Secretary, Femi Olugbemi on Tuesday, said the online report was false as the 7th Assembly never approved sun fund.

While speaking further, the Speaker insisted that the loan was not approved in his lodge secretly or in the Chambers, noting that the online report was meant to incite the general public and indeed Kogites against the Kogi State Government, Governor Yahaya Bello and the Kogi State House of Assembly.

Kolawole clarified that the Federal government deliberately availed loan facility to 36 States of the Federation to ameliorate the hardship occasioned by COVID-19 pandemic.

“In line with the laid down procedure, each of the State Houses of Assembly across the country must approve the loan which has over thirty years plan for repayment before it can be accessed.

In light of this, the Speaker gave the needed legal backing for the state to access its fund that will enable the state to meet up with some of its financial obligations.

“President Muhammadu Buhari approved the bridge facility for all the 36 states of the Federation and it will be accessed from the Central Bank of Nigeria, CBN. The facility was meant to give support to States following the resumption of monthly deductions for the repayment of their various loan facilities.

“It will be recalled that the Federal Government had earlier suspended the monthly repayment of the loan facilities by States due to the effects of Covid-19 pandemic”.

He added that the N18.7bn, which would be disbursed in six tranches (6months instalment) of N3.1bn each, is expected to be repaid monthly for 30years, approximately (360 months).