Governor Alex Otti Admits to Borrowing N50 Billion Despite Previous Denials | #NwokeukwuMascot

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 Alex Chioma Otti 

In a significant development, Ferdinand Ekeoma, spokesman for Governor Alex Otti, has confirmed that the administration borrowed N50 billion in October 2023. The funds were secured through a contractor finance facility with Access Bank Plc to support Craneburg Construction Company, owned by the Wigwes.


During an interview with Urban Radio Enugu, Ekeoma disclosed that only "less than N10 billion of the money" has been spent so far.


This admission contrasts sharply with Governor Otti's statements from April 2024. During a media chat in Umuahia, he assured journalists that his administration had not borrowed from any bank. Ekeoma's revelation raises serious questions about the governor's transparency and the management of the state’s financial resources.


In addition to the N50 billion loan, Governor Otti's administration has reportedly borrowed a total of N145 billion through similar processes. This pattern of borrowing and the subsequent lack of disclosure have sparked concerns among citizens and political analysts about the state's fiscal responsibility and the potential long-term impact on its economy.


The latest disclosure underscores the need for greater accountability and openness from state officials regarding financial dealings. As the situation unfolds, residents of the state and observers nationwide will be keenly watching how the administration addresses these concerns and manages the borrowed funds moving forward.

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