OTTI CLEARS AIR OVER S125M ISLAMIC BANK LOAN

According to a vanguard report, Dr. Alex Otti, the incumbent governor of Abia state has cleared the air over S125m Islamic bank loan. The governor has made it unequivocal that facility purely for development purposes, devoid of religious ties. The report, by Steve Oko, explains further:

Governor Alex Otti of Abia State has explained that the $125 million loan facility the Federal Government recently approved for Abia, was purely for development purposes, and had no religious connotations whatsoever, contrary to misconceptions and insinuations in some quarters.

The Governor who made the explanation while responding to a question during a media parley in Umuahia, disabused the minds of those insinuating religious attachments to the facility.

Otti promised that the facility would be judiciously utilised on the projects for which it was procured, saying his administration is prudent in management of resources.

He said:”Now, you are worried about the $125 million billion dollars. You are worried that it is coming from Islamic Development Bank? I don’t think there’s any need for worry.

“You know money doesn’t have colour. Whether it is coming from the devil, or coming from heaven. The important thing is to use the money for the purpose. So, that is what it is. It is Islamic Development Bank.”

The Governor, however, added that the Commissioner for Finance, would be providing detailed information about the loan facility in the days ahead.

” I believe that the details will be made clear by the Commissioner for Finance at the appropriate time. There is nothing to worry about. The conditions are very generous. By the time I looked at the conditions, I was utterly surprised.”

Gov. Otti said the only thing to worry about was the unstable exchange rate of Dollar to Naira.

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