Cross River seeks N5b for LG workers salaries as labour, opposition kick against assembly’s approval

Worried by the inability to access local government funds as a result of the result recent policy of the NFIU, the Cross River State Government is seeking a N5b loan.

Already, 2018 reports of Economic Confidential had put the state’s foreign and domestic debts at N235.9b of which foreign debt amounted to $276.2m, as local debt hit N167.9b.

However, principal officers of councils in the state have rejected the state government’s directive to tamper with Federal Allocations contrary to NFIU’s directive.

Consequently, Governor Ben Ayade had transmitted a letter dated July 5, 2019 to Speaker, state House of Assembly and read yesterday by Clerk of the House, Bassey Ekpenyong, seeking approval to obtain N5b loan from First Bank of Nigeria with 18 per cent interest and payable within 24 months.

Reacting to the development, Chairman of Trade Union Congress (TUC), Clarkson Otu, however, wondered why government was borrowing money to pay pensions, which is a monthly thing.

“Does that mean he will be borrowing every month to pay pension? He has not even paid gratuity, which stands at over N30b. I can not understand this and it unfortunate,” he said.