Rivers State Government gets nod to access N52billion bond

By IAfrica
In Nigeria
Sep 3rd, 2014
0 Comments
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imageThe Rivers State House of Assembly has approved a fifty billion naira bond to aide infrastructural development in the state.

The assembly also approved two billion naira for medium and small scale enterprise development from the Central Bank of Nigeria, CBN.

The proposed fifty billion naira is to be taken from an already approved bond which is also part of the 2014 budget.

During the debate, members of the house emphasized the implication of assessing the said loan.

The House Chairman, Committee on Finance, Josiah John Olu explained that the state government is going to access Tranche 1 of the bond, adding that the executive arm was in order

The Speaker of the House, Otelemaba Dan Amachree, who earlier read the letter from the Governor, said the action of the executive was in line with the principle of separation of powers.

The Assembly also summoned the state Commissioner for Health, Sampson Parker to appear and brief the house on latest update on the Ebola virus in the state.

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