PDP warns FG against releasing bailout fund to Kogi govt

THE Peoples Democratic Party (PDP) in Kogi State on Sunday warned against releasing the balance of N30 billion bailout to the state government.

The party said it had gathered that the state governor, Alhaji Yahaya Bello, and the commissioner of finance have intensified efforts in lobbying the APC controlled federal government to secure the release of the balance of the bailout.

The PDP in a statement signed by the state publicity stunt, Bode Ogunmola, said there was the need to probe into the utilisation of the past funds so far released to the governor.

The party noted that the state is hugely indebted and is owing workers salaries for upward of 38 months after it has taken several loans from banks without any development to show for it.

The PDP said, “All the administration has embarked upon is reckless looting of state resources and any attempt to compromise by the CBN would be a great disservice to the suffering people of Kogi State.”

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The PDP disclosed that the bailout itself is not a free fund as the money is a loan that would be paid back over a period of time with 9 per cent interest, saying any government that prides itself in probity will ask questions on how past releases were utilised before committing the state into further debt.

The PDP, which explained that while it is not against the payment of workers their entitlements, said it had earlier suggested that the CBN should initiate moves to probe the utilisation of earlier releases and make arrangements to pay workers directly.

It, however, warned that any further release to Bello would amount to a disservice to the poverty-stricken workers of Kogi State, pointing out that the government is financially reckless and has a penchant for not paying salaries.

The PDP asked the CBN to pay Kogi workers directly stating that any attempt to release the balance of bailout to Governor Bello, would amount to giving him his pay off because the government has been rejected and would be voted out in November.