After the Delta State government under Dr. Ifeanyi Okowa, bluntly refused to reveal the new name of the financial institution the State government has concluded plans to obtain the controversial N100 billion loan from, on grounds of unethical practices, the Peoples’ Democratic Party (PDP) governorship candidate, Sheriff Oborevwori, has finally named the bank.
Efforts by journalists during a press briefing on Monday January 30th 2023, at the conference hall of the ministry of information jointly organized by the Commissioner of Finance, Sir. Fidelis Tilije and his information counterpart, Charles Aniagwu, to know the name of the borrowing bank after Zenith Bank turned the state government down, met brick walls.
However, on Tuesday 7th February 2023, Oborevwori, during a luncheon with newsmen on “The Platform”, at the Press Centre, Nigeria Union of Journalists (NUJ), Delta State Council, unaware of the clandestine move to conceal the name of the bank, disclosed that the leading financial agent is Premium Trust Bank.
The new leading agent, Premium Trust Bank, is allegedly a financial institution owned by the state governor, Dr. Ifeanyi Okowa and his cronies.
According to Tilije, after the discussion a new leading finance house emerged as against the one that was the leader at time the House of Assembly gave the approval for the government to obtain the the bridging finance facility.
But fielding questions from newsmen, Oborevwori said, the State government changed the lead bank from Zenith Bank to Premium Trust Bank.
“We intended to take N150 billion as discounting facility from the market. But, when we reviewed the cash inflows, we reduced it to N100 billion.
“It is that same N100 billion that we have to go again to the House of Assembly last week because we found out that the lead agent of the said facility was not moving as fast as we want.
“So, all we did last week was to go back to the House of Assembly to seek their consent to enable us change the lead bank for that discounting facility.
“It is not a new loan, discounting facility nor a new bridging finance. It is still the same N100 billion we have been talking about”, part of Tilije’s briefing reads.
