Rivers govt denies allegations of indebtedness to banks

The Rivers State Government has moved to shut down allegations that it is indebted to a host of banks in the country claiming the purported report is being peddled by its detractors.

According to the Permanent Secretary, Ministry of Information, Mr. Paulinus Nsirim who addressed journalists at the Government House, Port Harcourt, on Monday, the falsehood is being peddled around by the Debt Management Office (DMO) through media detractors.

Nsirim said: “This misinformation is another attempt by detractors to malign the integrity of the current administration in the state which has since its inception in May 2015, shown utmost frugality in the management of state resources.

“This appears to be another orchestrated plan to de-market the state through unconfirmed statistics since other forms of negative propaganda had failed.

“That with a healthy monthly Internally Generated Revenue profile of at least N8 billion, the state does not resort to reckless borrowing that will make her run into debts.

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“That as a matter of deliberate policy, the current administration in Rivers State desirous to leave behind a worthy legacy, does not embark on white elephant projects that will require bogus financial obligations,” he said.

He also disclosed that the state government only operates accounts with Zenith and Access banks, noting that it (state government) had repaid all loans obtained.

“That the state government inherited a commercial bank loan of N15,845,118,108.44 in 2015, which had been liquidated.

“That all loans taken by this administration for the infrastructure development of the state from Zenith and Access banks had been liquidated too.

“That the issues of debts owed to contractors, pension arrears etc, that the Debt Management Office used to stigmatise the state are recurrent and capital expenditures, which payments are ongoing.

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