Efio-Ita Nyok|20 September 2016
Unconfirmed report from Cross River State foremost whistle blower, Ifere Paul, suggest the Cross River State Government (CRSG) is intending to acquire a loan of N3 billion at the interest rate of 10% from Fidelity Bank. The report has it that the state government has secured the services of
A&E Law Firm, a loan acquisition company to in turn involve Nigeria Mortgage Refinance Co Ltd all in the bids to acquire the loan following earlier frustration.
According to Paul, 'Cross River State government has engaged the services of a loan acquisition company A & E Law Firm to involve Nigeria Mortgage Refinance Co Ltd to obtain a loan from Fidelity Bank at all cost'.
'The loan was earlier aborted following the inability of the CRS to meet with the requirements from the Department of Debt Management in Abuja', Paul continued
'The new arrangement signed by the State will cost the State a whooping 300 Million as a 10% of 3 Billion Naira commission to A & E', he further noted.
Efio-Ita Nyok
Is a Blogger & the Editor of NegroidHaven.org