Sunday, 28 October 2018

debunking Eyo Ekpo's Mendacity: Ayade's Govt has never borrowed any money since inception

| 28 October 2018 | CRSGH Correspondent 

The government of Prof. Ben Ayade has debunked allegations being circulated on social media claiming that the government has thrown the state into an indebtedness to the tune of N177bn.

 The government which described the allegation as false and very mischievous, said the fake news was being circulated through bulk SMS by one Eyo O.Ekpo contesting for  Governorship under the SDP, to poison people's mind against the Governor Ayade in the 2019 election.

The government said It is important that Cross Riverians should be wary of characters like  Eyo who think their route to power is to peddle lies and falsehood against the good works of the digital governor.

It affirmed that the government of Prof Ben Ayade has not borrowed a dime since its inception in power.

"It is important for the public to know that Cross River state receives the lowest federal allocation from the federal government. In spite of that, the government of Prof Ben Ayade has embarked on massive industrialization projects in the state there are many ongoing   road construction and repairs across the state, the government stated.

The government further added that, Ayade has never borrowed a dime since getting into office but has successfully been paying salaries, pension and gratuities regularly to the state civil servants and retirees.

The government noted that the debt of the state was incurred by past administration which made it impossible for Ayade to borrow, stressed that Cross River, Osun and Zamfara were declared insolvent before Ayade came into office.

Here are facts debunking Eyo Ekpo's Mendacity 

☆Ayade has never borrowed since he became governor.

☆ The state had already exceeded its own borrowing threshold allowed for states by the Debt Management Office DMO.

☆ All other projects executed in the State prior to the Ayade governorship were done with loans borrowed at 44% interest rate by the previous adminiatrations.

☆ The loans collected by former Governor Duke matured during the Imoke administration and Imoke couldn't pay and had to reschedule them twice.

☆ The loans, including those collected by the Imoke admin finally crystallized under Governor Ayade's tenure.

☆ Since he took office, Governor Ayade has continued to pay NGN1.5 Billion monthly to service those debts, yet the State no longer has a borrowing window under his tenure.

☆ Under Ayade's tenure, salaries and pensions have been paid to date.

☆ All projects funded direct and by Intellectual Money, IM.

So if Eyo Ekpo wants to know who borrowed the humongous amount he is alleging, he should ask his principal, Donald Duke, who took the loans that have kept our State in this perpetual indebtedness.