19 February 2020
Tuesday, 18 February 2020, the 9th Cross River House of Assembly led by Eteng Jonah Williams granted approval to the State Government's request to borrow the sum of N35 billion for projects execution across the state and other matters NEGROIDHAVEN can say authoritatively.
According to the said legislative approval the anticipated N35 billion is to be sourced accordingly: 'N15 billion United Bank for Africa, N10billion from First Bank and another N10billion from Zenith bank respectively', George Odok who is intimate with the development said.
Daniel Riwo a blogger with interest in the state said 'Cross River State Govt has just withdrawn N35 Billion from our future with the help of the state Assembly.'
MTEF on the way
Meanwhile, the State House of Assembly has responded to the 3rd December 2019 editorial of NEGROIDHAVEN titled 'Olimpotic Meristemasis: Gov Ben Ayade may've Violated the Fiscal Responsibility Act 2007', charging her to develop a Medium Term Expenditure Framework MTEF for the state.
According to the Chief Press Secretary to the Speaker, Hope Obeten 'in its previous resolution directed that the Vice Chairman, State Planning Commission and Economic Adviser to the Governor should prepare and lay before the House, the State Fiscal Strategy Paper and Medium Term Expenditure Framework, MTEF, to serve as a guide to MDA’s and even investors who are willing to do business wit the stage.'
