Rivers APC Cautions Banks Against Giving Wike’s Administration Loans, Says Gov Has Spent N60bn In 30 Days


The Rivers State chapter of All Progressives Congress, APC, has advised banks in the state against giving loans to Governor Nyesom Wike’s administration.

The party gave this advice in a statement issued in Port Harcourt on Thursday.

Explaining that the current administration in the state will lavish such loans on frivolities, the APC accused Gov. Wike of squandering N60bn within 30 days, amounting to N2bn per day.

According to the statement signed by the state chairman of the party, Dr. Davies Ikanya, any bank that lends money to the current government will be doing so at its own peril.

Arguing that such loans will be difficult to recover, Ikanya said, “The period of sharing Rivers State money among some unscrupulous politicians ceased since 2007 and cannot be reintroduced through the back door.

“In what is clearly a tale of the absurd, Wike’s rubber stamp State House of Assembly has approved a whopping sum of N30bn within 30 days for expenditure without any project attached.

“Apart from this N30bn, the administration of Rt. Hon. Chibuike Amaechi left the sum of N7.5bn plus the N23bn released to the state from the Federation Account and Internally Generated Revenue, making the total funds available for Wike to squander over N60bn within 30 days”.

In reaction, the State Commissioner for Housing, Mr. Emma Okah, described the allegations as unsubstantiated.

He said, “There is absolutely no truth in what they are saying. They are ignorant of the truth. His Excellency (Wike) only collected N10bn, which he attached to various projects made known to Rivers people.

“They want to divert attention from the revelation of their misappropriation of Rivers’ resources trusted to their care. This government cannot be ruffled by their unsubstantiated allegations”.