Delta Assembly OKays Okowa’s N18.7bn Loan From CBN

The Delta State House of Assembly has approved a request by Governor Ifeanyi Okowa for N18.7bn bridging finance from the Central Bank of Nigeria (CBN).

Okowa explained that the credit facility was to cushion the effect of repayment of the Federal Government’s intervention facility on expiration of the forbearance period.

The House also approved a Memorandum of Understanding executed between Cajul Services Nigeria Limited and the Delta State Government for the development of Truck Transit Park at the Delta Rest Park, Umunede-Emuhu.

PrimeBusiness.africa can report that both requests were contained in separate letters by the governor which was addressed to members of the state House of Assembly.

The letter was read on the floor of the House by the Speaker, Mr. Sheriff Oborevwori.

The motions for the approvals were moved separately by the Majority Leader of the House, Mr. Ferguson Onwo, and were unanimously adopted by the House following voice votes.

PBA Reporter

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