By Jonathan Ugbal The claims made by Mr. Emmanuel Ulayi, a Special Assistant to Governor Ben Ayade on media that the Cross River State Government has not borrowed a dime since Mr. Ayade assumed office in May 29, 2015 may not be true as quick checks on the Debt Management Office shows otherwise. In a
Total debt of Cross-River State as at the end of 2017 was approximately N177.16bn. External debt grew to $167.9mn in 2017, from $114.9mn in 2016. Meaning the administration of Governor Ayade alone incurred additional $53mn external debt between 2016 and 2017. Cross River Domestic debt also rose to N125.65bn in 2017, from N116.06bn in 2013.
In February 2016, while Ayade had traveled, he summoned an emergency EXCO meeting presided over by his deputy and N100 million was approved as licensing fee for the Microfinance been the requirement by the Central Bank of Nigeria. 13 months after in March 2017, Governor Ayade told a delegation from the Calabar Chambers of Commerce
The Fiscal Responsibility Act is a law of the National Assembly. Section 44 and 45 of the Act which deals with conditions of borrowing and verification of compliance with limits provides as follows: Section 44 – (1) Any Government in the Federation or its agencies and corporations desirous of borrowing shall specify the purpose for
By CrossRiverWatch Admin The African Action Congress is calling on Governor Ben Ayade to resist the temptation of tampering with local government funds. We are aware that following the implementation of the directives of the National Financial Intelligence Unit (NFIU), the allocations for local governments have been paid into the accounts of the councils. We
By CrossRiverWatch Admin The Cross River State Governor, Senator Ben Ayade has barred Government House Correspondents of CrossRiverWatch, Hit FM, FAD FM and Sparkling FM from covering his activities. The Governor’s directive, CrossRiverWatch gathered, was given after the recent release of a video where he, alongside his deputy, Professor Ivara Esu were dancing to tunes
Do you know that budget allocations for LGAs, Houses of Assembly and State Judiciaries are all paid into a joint account which is controlled by the state Governor alone? In Cross River state for instance, 🖕The State House of Assembly only has a recurrent/expenditure bank account. 🖕Anytime the House has a need, an event or
The excellent positive reviews and responses that have flooded the Cross River social media space for the first delivery of seedlings from the Cross River Rice City to Bayelsa, is a testament of the acceptability of the project and citizens appreciation for completed projects. I am simply saying that we will all file out and