The governorship candidate of the Social Democratic Party (SDP), in Delta State and largest private investor, Olorogun Barr. Kenneth Gbagi, OON has warned commercial banks operating in the state to stop further loaning of more monies to the outgoing Peoples’ Democratic Party (PDP), government led by Dr. Ifeanyi Okowa.
He warned the banks not to connive with Okowa, whose administration ends in 2023, against mortgaging the future of the state by incurring additional loans to the already existing one running into billions of naira.
The warning is on the heels of alleged directive by the state governor through the state accountant general for all leading accounts in Ministries, Department and Agencies (MDAs), in the state to be moved to Premium Trust Bank purportedly operated by his family and friends.
Gbagi raised the alarm on Saturday November 26th 2022, at a town hall meeting with Christian Association of Nigeria (CAN), in the three local government areas in Ndokwa nation comprising Ndokwa east, Ndokwa west and Ukwauni local governments in Obiaruko.
This is coming less than seven months after the government obtained a N175 billion loan, which it claimed would be spent on some key projects.
The renowned Criminologist regretted that with all the wealth God gave to the state, the Okowa’s administration has borrowed N387 billion.
He disclosed that the government would go into borrowing spree, calling on the church to be fervent in prayer so that it doesn’t borrow again as the ones already borrowed are on the heads of children, grandchildren and children yet unborn.
He called on banks not to borrow any money again to Okowa, as the state could not afford to pay the loans as there are no industries in the state.
He lamented that the current debt profile mortgages the future of born and unborn Deltans, which is unacceptable.
The industrialist blasted the state government for the nosediving economy, unjustifiable borrowings, folding businesses, unabating hunger and millions of Deltans falling into poverty, rising unemployment rate and other vices.
Gbagi has questioned the rationale behind the alleged directive of the governor for all leading MDAs to move their accounts to Premium Trust Bank.
He charged Deltans to be curious about those who are the Directors in the bank if they are Urhobos, Isokos, Itsekiris, Ijaws and other tribes within the State.
It would be recall that on 18th November 2022, the SDP governorship candidate, came hard on the Dr. Ifeanyi Okowa-led administration for plugging the state into more debt without corresponding industries to repay the borrowed money.
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