June 11, (THEWILL) – Financial Institutions in and outside the country have been warned against granting more loans to the Cross River State government.
The People’s Democratic Party (PDP) Guber flagbearer in the state, Professor Sandy Onor, issued the warning in Calabar.
The warning comes amidst reports that the state government has perfected plans to borrow an additional N35 billion from financial institutions.
Faulting the move, Professor Onor said they need to reclaim the state from people who have no values for the lives of the people.
He explained that in the eyes of the law, the state assembly is in abeyance and anything that carries its imprimatur, is null and void.
“We need to reclaim the state from people who have no values for our lives and are making plans to borrow another N35 billion with only a few months left to end their tenure.
“As at march this year, the debt profile of the state stood at $279 million, yet the outgoing government is conniving with the assembly to borrow this whopping sum just to put a final nail to the coffin before they leave.
“There cannot be another way to show how wicked a government can be towards its people.
“In any case, in the eyes of the law there is no house of assembly in Cross River State and anything that carries the imprimatur of the assembly is null and void.
“This should serve as a warning to financial institutions in and outside Nigeria, not to grant any loan in whatever form to the current government, as they will be doing so at a very high risk.
“Until the court pronounces otherwise, the house of assembly as presently constituted, cannot enact legally binding resolutions and laws”, Professor Onor said.
He also faulted the planned conduct of local government elections in the state.
He said the assembly being in abeyance, cannot confirm the governor’s nominees to serve in the state electoral commission.
He assured the people that they are very close to their eldorado and the present darkness will soon give way to light.
He also promised to run a truthful administration and restore the lost glory of the state.