by crossriverwatch admin The Federal Government’s approval for the dredging of the Calabar Port access channel is reportedly causing a stir in the maritime industry. Although billions of naira had been spent on the project yet there is nothing to show for it and many are wondering whether the project has not become a conduit
by crossriverwatch admin The explanation of Governor Liyel Imoke through his Chief Press Secretary on the reason (s) why the Government of Cross River State is floating a N40 Billion Bond to re capitalize subsisting debts and not a fresh Bond to raise a fresh loan is wishy-washy, tenuous and unconvincing. It is a ruse!
by crossriverwatch admin As most citizens are aware, the Cross River State House of Assembly, yesterday passed into law a Bill seeking to approve the issuance of a Bond to the tune of 40Billon naira and related matters. I am not a close watcher of activities and proceedings of the CRSHA, but for those who
by crossriverwatch admin The Accountant General of the Federation, Mr. Niyi Otunla has stated that with the adoption of the provisions of the International Public Sector Accountants Standard IPSAS, the country’s public financial management would be placed on the international map on public sector management, insisting that it will make easy accounting practices in the
by crossriverwatch admin Calabar, the Cross River State capital city, is located in the coastal region of Southern Nigeria and has an area of 406 kilometres as well as close to one million people. As one drives into the city, particularly on Tuesday, Thursday or Saturday mornings, visitors and residents alike, are greeted by the
by crossriverwatch admin President Goodluck Jonathan today said in Calabar that a Memorandum of Understanding has been signed for the construction of a railway line from Lagos to Calabar. The President promised that the rail line will be extended to the Obudu Ranch Resort. The President was speaking at the ground breaking ceremony of the
by crossriverwatch admin As criticisms continue to trail the approval by the Cross River State House of Assembly for the government to raise a N40b Bond, the governor has explained that the Bond is not to raise fresh loans but to renegotiate the existing debt and spread the repayment period over a reasonable time and
by crossriverwatch admin News reports of our Governor getting approval from the Cross River State House of Assembly to raise a bond for the sum of N40bn to finance various projects of the state government are thoroughly alarming. 2. Ordinarily, taking a Bond or other loan to finance projects is routine in government. But juxtaposed