Rivers APC against alleged incessant borrowing by Wike

Okoro Chinedu 09:48 02/07/2015
Lagos - The Rivers State Chapter of the All Progressives Congress (APC) alleged it had unearthed plans by Governor Nyesom Wike to obtain loans worth N100 billion, saying this would plunge the state into debt.
According to the allegations, the governor “in the few months he will be in power” plans to collect the said amount in tranches within a period of two months.
“APC, Rivers State Chapter has uncovered a strategic plan by Governor Nyesom Wike to obtain loans totaling N100b in the few months he is expected to be in power as the governor of Rivers State thereby plunging the state into an abyss of debt and economic servitude,” Chris Finebone, APC State Publicity Secretary, said.
Finebone said meanwhile, within the past two weeks, Wike had already sought and gotten the approval of the Rivers State House of Assembly to obtain N10 billion and N20 billion loans from Zenith Bank PLC and Access Bank PLC respectively.
Information APC was privy to strongly indicated that the governor and “his men” had started negotiation with Heritage and Eco Banks to obtain another loan of N30b in the coming week or so.

“This will bring the total amount of loan obtained by the embattled governor to N60 billion in less than 45 days as Governor of Rivers State,”
Finebone said.
“The APC can only agree that the good people of Rivers State have ended up in the notorious Lagos buses used in robbing unsuspecting citizens popularly called ‘one chance.’ With the short-term Wike-led government of Rivers State, indeed, we have all entered a ‘one chance’ bus.”
Finebone said beyond the argument Wike was borrowing to complete projects which he has been selling to Rivers people, the real intention of Wike’s borrowing was to provide funds for alleged cronies “who have started showing signs of disenchantment and the need to deepen his war chest preparatory to a re-run election that is looming.”
APC is contesting Wike’s election and is confident the Election Tribunal will overturn the result as schedule a re-run.
Amid the uncertainties Finebone thus slammed the borrowing by the state government, whose officials could not be reached for comment.
“As long as the scheme of this governor succeeds, we and our children yet unborn will be eternally tied to the apron-strings of those cavalier banks that are conniving with the governor while he walks free after being sent packing as governor in a few months time.”

- CAJ News