Cross River State Government has faulted claims by the Debt Management Office, DMO, that it took a fresh loan of over N16 billion.
As reported by Dailypost, DMO published on its website that Cross River State’s domestic debt was N220.2 billion as of December 2023. As of June 30, 2023, the debt stood at N204.04 billion, indicating that the government had purportedly taken a fresh loan of N16.2 billion.
A statement by Governor Otu, released by his chief press secretary, Gill Nsa denied the report, claiming no record in the annals of the state government suggests that fresh borrowing was undertaken, since the inception till date, both domestic debt and foreign debt.
He challenged any person, including the DMO, who has evidence of any fresh loan taken under the administration of Governor Bassey Otu to make that public.
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