N150billion Loan: As Deltans Lash Okowa, Efe Duku Drags Gov to Court [Document]

• Says Okowa’s Action amounts to reckless, intolerable fiscal irresponsibility

A Special Adviser on Legislative and Plenary Matters to the Deputy President of the Senate, Senator Ovie Omo-Agege
(Delta Central), Prince Efe Duku has filed a lawsuit
Federal High Court, Asaba challenging the Delta State Government over the controversial N150 billion loan from Zenith Bank.

The huge credit facility which has triggered mass anger of Deltans against Governor Ifeanyi Okowa and his PDP-led administration was approved by the Delta State House of Assembly on Thursday, April 26, 2022.

Speaking with journalists recently in Asaba, Okowa tried fruitless to explain why he wants to plunge Delta State into the N150 billion debt trap!

The governor said that the N150 billion had been tied to projects embarked upon by his administration and his predecessor.

However, in suit number FHC/ASB/CS/66/2022 Governor, Okowa, Delta State House of Assembly, Zenith Bank PLc, Delta State Attorney General, Minister of Finance, Debt Management Bureau and Attorney General of the Federation are the first, second, third, fourth, fifth, sixth and seventh defendants respectively.

In a statement shortly after he filled the suit, Duku said that he initiated the legal challenge to stop the loan and save the state from being plugged into debt.

He said that the action is a necessary step to protect the state’s treasury and future from the imminent and clear danger that the Okowa government is.

He said that it was very worrisome that even although, there was no compelling substance and urgency, the loan was speedily approved by the lawmakers.

He said: “Amongst others, the action filed seeks to void the approval by the House for being reckless and manifestly unlawful when weighed against relevant legislations.”

The deputy president of the Senate’s aide warned that the action of Governor Okowa was a troubling pattern of reckless borrowing, intolerable fiscal irresponsibility, wastefulness, and lawlessness in the oil rich state’s public finance management.

He emphasized: “It speaks to extreme corruption in the conduct of public governance in our state.”

Continuing, he added that the loan is shrouded in voodoo economics, and driven by very disrespectful propaganda that ignores the capacity of Deltans to detect and resist obvious wrongs.

He insisted; “For these reasons, and even much more, it is necessary to take every civilised step under our Constitution and laws to stop this loan that clearly spells a terrible economic disaster for our future. Inaction by vigilant citizens is not an option when government becomes manifestly dubious and even an existential threat to the citizens themselves.”

No date has been fixed for hearing.

“Accordingly, having consulted very widely amongst our people, good governance activists/advocacy groups and many respected political, religious, women, youth, and professional leaders of our State at home and abroad, I have instituted an action at the Federal High Court to stop the loan. I am wholly convinced that this is a necessary step to protect our treasury and Delta’s future from the imminent and clear danger that the Okowa government is. This is for the collective good of our people.

“It should be taken for granted that no party to this action will take any precipitous step that may touch on the issues already submitted to the court for determination. All parties ought to be wisely guided and strongly restrained until the law speaks with finality before any step may be taken”.

reports that Governor Okowa had at a recent quarterly media briefing on the activities of his administration, clarified that the controversial N150 billion “Bridging Finance” facility he took recently following an approval from the state House of Assembly, was

Speaking with journalists recently, Okowa justified the N150 billion deal, explaining that it is not a fresh loan but an advance from the N270 billion owed the state by the Federal Government.

The governor said that the N150 billion had been tied to projects embarked upon by his administration and his predecessor.