Cross River House Of Assembly Grant Ayade’s Request To Borrow N2 Billion From First Bank

In Breaking News, Business & Economy

By Itam Offor

The Cross River State House of Assembly has in a resolution granted approval for the Government to accept an offer of 120 days temporary overdraft facility of N2 billion from First Bank plc.

The request for the Assembly’s approval was contained in a letter signed by the Secretary to the State Government, Barr. Tina Agbor which stated that the over draft facility is intended to “cushion the effect and consequences of the current corona virus pandemic which has affected the financial status of the State.”

According to the SSG, “the credit facility has become necessary because of a shortfall in both the Federal allocation and internally generated revenue which is making it difficult for the State Government to meet urgent needs and important demands.”

Members in separate remarks lamented the current economic challenges faced by not just Cross River but others States as a result of the COVID-19 pandemic and noted that the facility will assist the State Government strengthen it’s lean finances.

Since You Are Here, Support Good Journalism

CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.


New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here

Expose Your Business And Make More Sales. Advertise On Today

You may also read!

Becheve Community Resolves To End Money Marriage Tradition

By Archibong Jeremiah The money marriage tradition in the Northern part of Cross River State, Nigeria has been given


P&ID: How Nigeria’s Attorney General’s Failure To Negotiate Debt Attracted Compounded Interest

By SaharaReporters The failure of Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, to successfully negotiate an arbitral award


Police ACP, Stephen Udeme Brown, Caught On Record Attempting Rape

By CrossRiverWatch Admin Mrs. Kate Agbor, a resident of Calabar has written to the state Commissioner of Police CP,


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now