* Akan Okon, Aniekan Umanah speak
* The House of Assembly will do the needful, says AKHA Chairman on Finance & Appropriation
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| Akan Okon |
BY EMMANUEL AKPAN
There appears to be an interesting dimension in the recent request by the state Governor, Mr. Udom Emmanuel towards converting Akwa Ibom State loans into Federal Government bond. THE INK reporter gathered that the request does not cover the loans gotten from other banks as the United Bank for Africa, UBA is the only commercial Bank that this over sixty four billion naira is being owed. Our reporter understands that the state is indebted to UBA with an outrageous sum of money. It was revealed to our reporter by a senior member of Staff of UBA in Uyo that as at June 30th, the loan amount stood at 64,556,632,439.08 with an international rate at 15% running in tenure of about five years.
