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Adamawa Assembly grants request by Gov Bindow to secure N19. 5 billion loan

 

Yola, Sept. 4, 2015 (NAN) The Adamawa House of Assembly has approved the request of the state government to secure N19. 5 billion loan for use in executing some projects and settling arrears of salary and allowances of workers.

The approval by the House in its plenary on Friday, followed the reading of three separate letters of request sent to it by the executive.

In the first letter, the governor requested for the resolution of the House ” to access N10 billion loan from the excess crude account for development projects.”

The second letter requested for a resolution to borrow ” the sum of N7.2 billion from Central Bank of Nigeria (CBN), to offset salary arrears and allowances of staff.”

The third letter requested for approval to obtain a loan of N2.3 billion from Central Bank of Nigeria (CBN) , under the salary arrears bailout scheme.

The House also deliberated on a request for virement in the 2015 revised budget, which it referred to the House Committee on Finance and Appropriation for further consideration and advise.

The committee was given two weeks to submit its report

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