THE Nigeria Bar Association, NBA, Owerri Branch, yesterday,
asked the Imo State House of Assembly, to give their own version of
what they know about the rising domestic debt profile of the
state.
The chairman, Mr. Lawrence Nwakaeti, made this statement, while
speaking to our reporter in Owerri.
He argued that the State House of Assembly, by law must have
approved for the executive to take an action on the issue of
borrowing money.
It will be recalled that a group called Imo Economic Development
Initiative ,IEDI, led by it’s chairman Prof. Maurice Iwu, alleged
that the domestic debt of Imo State, has hit N93.27 billion.
Reacting, NBA chairman said: “This can’t be good. A situation
where we accumulate debt is mortgaging the future of Imolites. I
think this should be condemned.
“And I know that the present administration has received more
funds than any other government in the past.”
He added that, “For the past seven years, the present government
has received more funding than all the state governments that has
ever ruled this state.
“Government is there to serve the people and when you want to
participate in governance, you have to go through your elected
representative.”
On his views on the issue of Imo debt profile, Nwakaeti said:
“We have the governor at the head and we have the State House of
Assembly, representing the various constituencies of the 27 local
government areas.
“These people are holding this power in trust, and the fact that
there is a periodic change of government does not mean that people
will fold their hands and allow government to destroy the very
essence of the society.
THE Nigeria Bar Association, NBA, Owerri Branch, yesterday,
asked the Imo State House of Assembly, to give their own version of
what they know about the rising domestic debt profile of the
state.
The chairman, Mr. Lawrence Nwakaeti, made this statement, while
speaking to our reporter in Owerri.
He argued that the State House of Assembly, by law must have
approved for the executive to take an action on the issue of
borrowing money.
It will be recalled that a group called Imo Economic Development
Initiative ,IEDI, led by it’s chairman Prof. Maurice Iwu, alleged
that the domestic debt of Imo State, has hit N93.27 billion.
Reacting, NBA chairman said: “This can’t be good. A situation
where we accumulate debt is mortgaging the future of Imolites. I
think this should be condemned.
“And I know that the present administration has received more
funds than any other government in the past.”
He added that, “For the past seven years, the present government
has received more funding than all the state governments that has
ever ruled this state.
“Government is there to serve the people and when you want to
participate in governance, you have to go through your elected
representative.”
On his views on the issue of Imo debt profile, Nwakaeti said:
“We have the governor at the head and we have the State House of
Assembly, representing the various constituencies of the 27 local
government areas.
“These people are holding this power in trust, and the fact that
there is a periodic change of government does not mean that people
will fold their hands and allow government to destroy the very
essence of the society.
Read more https://nairalaw.com/owerri-branch-nba-urges-imo-assembly-to-speak-on-states-debt-profile/