By CrossRiverWatch Admin Cross River State Governor, Senator Bassey Otu has denied taking nor signing for any loan (domestic or foreign), since the inception of his administration on May 29, 2023 till date. The Governor’s reaction follows the figures presented on the spreadsheet of the Debt Management Office (DMO) and posted on its website. The
By CrossRiverWatch Admin In the first six months after taking office, 13 new state governors collectively borrowed N226.8bn from Domestic and external financiers. This emerged as findings by Sunday PUNCH showed that 16 state governors also increased the debt profile of their states by N509.3bn with domestic and external debt of N243.95bn and $298.5m (N265.37bn),
By Ushang Ewa The total debts of Cross River State as at December 2016 exceeded its statutory revenue by 486.49% says the Fiscal Responsibility Commission (FRC) 2016 Annual Report. This is contrary to the guidelines of the Debt Management Office (DMO) on debt sustainability which states that the debt status of each state should not