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Alex Otti exposes Abia Governor over $200m

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Alex Otti has ​expressed concern about the $200m African Development Bank loan approved by the National Assembly for Abia State.

Otti, a former Group Managing Director of Diamond Bank Plc, expressed the fear that the foreign loan would plunge Abia State into a long-term financial and economic chaos.

This, according to him, was because the state Governor, Okezie Ikpeazu, had no clear repayment plan for the foreign loan which, he noted, has a 20-year tenure with seven years moratorium.

Otti, who was the governorship candidate of APGA in Abia State in 2015, said this while addressing journalists in Lagos on Wednesday.

He urged the National Assembly to rescind its decision on the approved foreign loan, alleging that Ikpeazu had mismanaged the resources of the state and was running the state aground.

Otti said with N14.150bn bailout, and two tranches of Paris Club loan refund in the sums of N5.3bn and N5.7bn that had come into the coffers of the state, there was no justification for civil servants in the state to be owed eight months’ salaries.

He said, “While many Abians were still mourning and yet to recover from the numerous deceits of the present Abia State Government, we got the sad news of the approval of the sum of $200m for Abia State by the National Assembly.”

He challenged the Ikpeazu administration to explain to the people of Abia “where the billions of naira given to it so far for the development of the state have gone to.

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