C’River assembly to probe ‘frivolous loans, ghost industries’ of Ayade’s govt

The Cross River State House of Assembly has vowed to probe the immediate past administration of the former state governor, Ben Ayade.

The Speaker of the Assembly, Elvert Ayambem, who made this public Thursday while speaking to journalists in Calabar, asserted that Ayade dragged the state into huge debts which had stalled the progress of the administration of the current governor, Bassey Otu.

Ayambem affirmed that Ayade’s administration was involved in many frivolous loans and ghost industries and that the Assembly was determined to stop and revoke deals on industries concessioned by the administration.

“The various loans that the previous administration of Ben Ayade acquired have relatively placed us on edge right now. You can’t quantify it because it is much and it is heavy, which is relatively placing the House on an edge also.

“We understand that Governor Bassey Otu is going through a lot because of the loans obtained by Ayade. That is our worry too.

“I wish the governor we have today came and met a loan that he can repay, it would have helped a great deal. You know he is trying to finish the International Cargo Airport in Obudu initiated by Ayade.

“I have told the governor that it’s not every of the Ayade projects that he should give a listening ear to.

READ ALSO: Gov Otu sets up committee to probe concession of companies by Ayade’s govt

“This is because we discovered lately that almost all those that are viable were concessioned two days before Ayade left office. And Ayade concessioned them to his friends and family members.

“I can tell you that in all of these projects, you hear about concessions, no dime was paid into Cross River State Government coffers. Not one dime. Prove me anywhere, not one dime was deposited into the Cross River State account.

“We had a meeting with Transcorp, they could not account for a dime that was paid to Cross River State Government yet it was sold outright.

“Look at the Garment Factory, the Ogoja Rice Mill, and all of that, all of those industries have been concessioned but there is no document anywhere that shows that a dime was deposited into Cross River State Government coffers. Not a dime.

“We will revoke all of that nonsense that they call concession. Take it from me, we will revoke all. We will because you cannot concession any state government infrastructure and don’t deposit a dime into the state government’s coffers. It is not done anywhere in the world.”

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