The Delta House of Assembly has approved a request by Governor Ifeanyi Okowa for a N100 billion credit facility, out of the N150 billion earlier approved Consolidated Syndicated Loan.
The approval followed the adoption of a motion moved by the Majority Leader of the Assembly, Hon. Ferguson Onwo, and seconded by the member representing Ughelli North I constituency, Mr Charles Oniyere at the Assembly’s plenary in Asaba on Thursday.
The Governor had transmitted a letter for the N100 billion loan request to the lawmakers through the Speaker, Hon. Sheriff Oborevwori, who duly presented the same to the House.
In another development, PDP presidential candidate, Atiku Abubakar has called on the Central Bank of Nigeria (CBN) to extend the deadline for the phase-out of obsolete naira notes.
In a video broadcast on Saturday, Abubakar argued that the January 31 deadline will make life more difficult for Nigerians.
He argued that the unbanked populations who do their business in the rural area would find it almost to meet up with the January 31 deadline.
“The ongoing policy by the Central Bank of Nigeria to redesign the naira has generated wide reaction across the country and beyond. This exercise is a one-way practice and, therefore, not anything new.
“Especially as the January 31st deadline draws closer, a great number of Nigerians, out of good conscience have expressed apprehension about how the policy and the deadline will make life more difficult for Nigerians,” Mr Abubakar said.
“The large number of unbanked population who do their businesses, especially in the rural area, will find it almost impossible to meet up with the deadline of January 31st to exchange their old bank notes for the redesigned currency.
“I’m aware of the challenges that farmers and others like artisans in the remote areas of the country go through in moving cash to commercial banks for conversion.
“On this note, I’m compelled to align my position with the upsurge of demands for the slight extension of the monetary conversion policy.
“The January 31st deadline is certainly going to cause heavy discomfort on our people and it will be magnanimous on the part of government and the regulatory agency to ease the paddle on the people for public interest while we can continue with sensitizing the public on the intending imperative of mobile banking.
“It is important for the CBN to consider the extension of the time that the public can convert their unbanked monies into new notes,” he added.
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