By Milcah Tanimu
Prominent figures from Taraba state have expressed their concerns regarding Governor Agbu Kefas’ bid to secure a substantial N206 billion loan from commercial banks.
Abdullahi Usman, an economic analyst, alleges that the proposed loan violates the established protocols governing the loan application process for government entities. He has called upon the leadership of the Central Bank of Nigeria (CBN) to intervene and halt this endeavor.
In a formal petition addressed to the acting governor of the CBN, Folashodun Shonubi, Usman implores the apex bank to advise commercial banks against granting the requested loan.
“If the CBN governor fails to promptly address this issue, it could lead the state into an ongoing state of severe impoverishment. Furthermore, the state might become burdened by an overwhelming debt load, rendering it unable to meet its financial commitments. This situation could significantly undermine the state’s viability,” the petition stated.
Usman also proposes certain measures, including the limitation of commercial bank loans to funding capital expenditures and state budgets, as well as a temporary prohibition on all loan arrangements for Taraba until the Supreme Court concludes its ongoing gubernatorial litigation.
In response, the state government, as conveyed by Emmanuel Bello, the Special Adviser to the Governor on Media and Digital Communications, asserts that the governor adhered to the prescribed procedures in pursuing the loan.
Bello contends that those opposing the government’s actions are motivated by negative intentions and have no authority to request the CBN’s intervention in blocking the loan.
“Why would someone file a petition with the Central Bank of Nigeria (CBN) regarding loans sought from commercial banks? Can the apex bank impede loans that commercial banks intend to provide?” Bello questioned.
Recalling recent events, it is worth noting that members of the state House of Assembly had recently granted approval for the loans from select commercial banks. These funds are intended to fund projects aimed at positively impacting the lives of Taraba’s residents.