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Chief Utum Eteng
Chief Utum Eteng

N5b Loan: Chief Utum Eteng Entreats C’River APC To Obstruct Bank Transactions

A private legal practitioner and bigwig of the All Progressive Congress (APC), Chief Utum Eteng has entreated the leadership of his party in the State to, as a matter of exigency make moves to hinder the State Governor from obtaining the N5 billion loan facility despite the approval of the State House of Assembly.

Chief Eteng who believes the loan facility would only increase the debt burden of the State recalled that during the Donald Duke’s adminstration, the then main opposition party known as Atam Congress stopped Mr. Duke’s government from obtaining a bank loan whereas the House of Assembly of that time had given approval.

The party chieftain who took to Facebook to register his unhappiness at the government’s gesture to borrow N5 billion in order to pay pension arrears and fix “unforseen obligations of government” termed the leadership of Governor Ben Ayade as “reckless” having failed to utilize the various tranches of Bailout Funds from the Federal Government meant to sort, especially, pensioners wages.

Advising his party on how best to handle the current loan quest of the governor, Chief Eteng said:

“I recall when the charismatic Donald Duke thought he could increase the debt border of the state at his own time. The main opposition in the state then was the defunct Atam Congress, and because the leaders had a direction and knew what to do, it stopped the #5billion loan he set out to take despite the approval of the House.

“MBA Uweni SAN now, Late Mathew Ojua, Chief Okoi Obla with Chief Utum Eteng [himself] as the secre behind the scene, legal strings were pulled and the transaction did not go through.

“The banks were alarmed and could not risk it funds,” Chief said.

Chief Eteng seized the social media space to entreat APC Cross River State to rise to its responsibility.

“Wake up and salvage the state from further increasing its debt burden now said to be about the 3rd most heavily indebted state in Nigeria,” Utum cried to APC Cross River State.

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