N100B bond: APC accuses Gov Fintiri of being reckless

…says future of people of Adamawa has been ambushed

Tom Garba, Yola

The All Progressives Congress, APC, have opposed the one hundred billion naira Agric Business bond facility the Governor of the state, Rt Hon Ahmadu Umaru Fintiri set to collect.

The APC in a Press Release said that the people of Adamawa should understand the present and future of the state has been ambushed by Governor Ahmadu.

According to them the Governor and the members of the state House of
Assembly is reckless and views the whole transaction as illegal.

The party’s caretaker Publicity Secretary in the state, Hon Mohammed Abdullahi who signed the press release revealed that APC in Adamawa lampooned the state Assembly Lawmakers for being a rubber stamp to have approved myriads of loans for the PDP led government.

“Apart from the N100 billion that has been illegally approved by the state House of Assembly, there are still numerous other loans collected by the same PDP led administration of Rt. Hon. Ahmadu Umaru Fintiri. In 2019 and 2020
alone, the governor using the rubber stamp state House of Assembly and collected about 30Billion Naira which cannot be properly accounted for.

“To be specific, the Fintiri led administration collected N9 billion as loan to execute two thousand (2,000) housing projects at Malkohi, but the houses are nowhere to be found.

“The N15 billion collected for the renovations of secondary schools cannot be accounted for because no single secondary school was renovated or is under renovation as at the time of writing this press release.

“The Covid-19 N2 billion loan collected was also a misery as nothing to show for the collection of this huge amount of money.

The construction of two (2) glorified bridges in the state capital proved to the public, the level of the insincerity of this government, as the two projects added no economic value to the state.

And not only that, the huge amount expended on the project cannot be justified as similar projects in other states (Borno and Kano) that look more qualitative consumed less than half of the amount collected and has since been completed.

“The sub-standard housing project in Malkohi has revealed to the public, the level of irresponsibility of this PDP led government in Adamawa State. The N9 billion collected for the 2000 housing estate, can only show ten (10) substandard, two- and one-bedroom flats still under construction.” The statement read

APC further said they are worried and disturbed by the urgent request for the N100 billion Agric business bond, being compounded by the fact that the State House of Assembly resumes plenary specifically for that purpose, even when the staff of the House is on a nationwide strike.

“While we viewed the transaction as illegal as highlighted by Hon. Abdullahi Umar Yapak, one of the APC members of the state House of Assembly during the plenary, we are studying every detail about the bond as it affects the state.” They stated

APC traded words of blames on the Adamawa government for financial misappropriation, and it is happening at a time when the state’s Internally generated Revenue (IGR) is still the lowest in the North East. While at the same
time the state government is laying off workers in the name of low revenue
generation.

“To worsen the situation, Payment of running cost, pension and
promotion dues and arrears are gradually becoming history in the state.

“Consequently, we have discovered that all the loans collected by this government including the approved N100 billion is not meant for the development of the state, but rather a way of siphoning money for project 2023.

“The All Progressives Congress (APC) as a party is commending Hon.
Abdullahi Umar Yapak of Vere constituency for taking a bold step to walk out from the plenary session, when the illegality was about to take place.

For the rest of our members (APC) who either knowingly or cowardly decided to be part of this embarrassment, the party is not happy with them.

“As an opposition political party, we are taking it as a duty to protect the common interest of the people of Adamawa State which is to improve their welfare.

“We would not conclude this press release without calling on the Central Bank, the Debt management offices, and the EFCC to come to the rescue of the people of Adamawa State, by standing against this financial immorality that is happening in the state.” Stated the release