Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result

B-O-N-D-a-g-e: This Is The SHOCKING Breakdown Of How Ebonyi State Plans To Spend Its Newly Approved N15bn Bond Proposal

Nairametrics by Nairametrics
March 12, 2014
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

Palpable tensions have continued to reverberate in the polity over the proposed N15 billion bond issued by the Ebonyi State Governor, Chief Martin Elechi, from the Nigerian capital markets that would be deducted from the state allocation for seven years.

The All Progressives Congress (APC) yesterday alleged that the bond issued was being proposed for the purpose of executing the 2015 general election by the state government in favour of the Peoples Democratic Party (PDP) candidates.

It could be recalled that the state governor, on September 29, 2010, borrowed N16.5 billion from the capital market for syndicated projects, which were also pencilled down for the new proposed bond.

RelatedPosts

MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

FG to accelerate deployment of 5G services with approval for Microsoft Enterprise agreement

A breakdown of the utilisation of the bond indicates that refinancing of existing bank facility would gulp N5 billion of the bond while the completion of Ukawu water scheme would takeN1billion.

Others include access road to Ukawu water scheme, N1billion; completing, furnishing and landscaping of the state secretariat, N3 billion; completion of the International market, N1.5billion; fencing, internal roads, water and provision of electricity in the state university, N2billion; water supply to Abakaliki, N1billion.

Shortly after the proposal was read for the consideration by members of the state House of Assembly by the Leader of the Assembly, Hon Sam Nwali, representing Ikwo North constituency, the member representing Ezza North West constituency and the Minority Leader, Hon Enyi Enyi, expressed shock that members of the Assembly approved the N15billion bond issue.

Also, out of the 24 members of the Assembly, 18 were in attendance, while a member, Mrs. Helen Nwaobasi, left the chambers before the end of the debate in what could be referred as a walkout, as six other members were also absent in view of the wild publicity of the sitting.

A financial expert, Mr. Emeka Nwankwo, described the proposed bond by the governor as a  calculated attempt to plunge the state into debt, and urged the people of the state to rise up and resist the bond by the state government.

Thisday

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband
    • FG to accelerate deployment of 5G services with approval for Microsoft Enterprise agreement
    • Bulls are back: Nigerian stock market gains N8 billion

    Follow us on social media:

    Recent News

    MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

    MTN Nigeria appoints Onyinye Ikenna-Emeka as General Manager, Fixed Broadband

    June 30, 2022
    FG approves digital ID for Internally Displaced Persons - Pantami, Minister denies approving NIPOST license fee increment , Isa Ali-Pantami, NCC to determine number of phone numbers entitled to an individual  

    FG to accelerate deployment of 5G services with approval for Microsoft Enterprise agreement

    June 30, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com