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Regional News of Thursday, 19 November 2020

Source: thisdaylive.com

Anambra Govt denies raising N25bn Bond

Anambra State Government has denied allegation that it secretly raised a N25billion bond from the federal government through the Debt Management Office (DMO).

A statement signed by the state Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, and made available to THISDAY denied that the allegation which emanated from the senator representing Anambra South zone, Ifeanyi Ubah, was true.

In the statement, Adinuba said he was not aware of anywhere in the world where a bond can be raised with such secrecy, such that no one would know of it.

According to him, “It has come to the knowledge of the Anambra State Government that Senator Ifeanyi Ubah claims in a voice note which he has gleefully been distributing to all manner of persons and individuals that the state government furtively raised a N25 billion bond from the Debt Management Office/Federal Ministry of Finance, Budget and Economic Planning for failed federal roads.

“For effect, Ubah emphasises that the bond was approved without the knowledge of the National Assembly. This claim is, with due respect to the senator, bizarre.

“We are not aware of anywhere in the world where a bond can be issued secretly. Before a bond can be issued for a state government in Nigeria, the state House of Assembly, the Debt Management Office (DMO), the Federal Ministry of Finance, Budget and Economic Planning, the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) must be involved.

“Every bit of the transaction must not only be transparent, but also be a public knowledge.

“The Anambra State Government has not raised any money from the DMO or the Federal Ministry of Finance under a bond or any financial instrument from any institution or organisation. Our record of prudent financial management and integrity is well acknowledged far and near.”

Adinuba added that instead of contempt, the Governor Willy Obiano’s government should be hailed for efficient management of resources.

“On August 31, for instance, BudgIt, a highly regarded independent civic organisation which uses technology to intersect citizen engagement with institutional improvement to facilitate societal change, declared Anambra State and the petroleum–rich Rivers State the two states with the best fiscal responsibility index in Nigeria.

“It is tough to speculate how Ubah came about the phantom N25billion bond which Anambra State purportedly raised surreptitiously from the DMO/Federal Ministry of Finance.

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