The senator representing Ondo-North, Prof. Ajayi Boroffice, has warned Zenith Bank Plc against approving a N7bn loan request made by the Ondo State Government.
Boroffice, in a statement issued on Sunday, said the loan request made a few months to the expiration of Governor Olusegun Mimiko’s tenure, was not a sound economic decision.
“The management of Zenith Bank PLC is advised to learn and be guided to reject the loan request having realised the high degree of risk attached,” he said.
The lawmaker said although the loan request was approved by the Ondo State House of Assembly, major stakeholders in the state were not consulted before the state lawmakers backed the governor.
Boroffice accused the state lawmakers of trading the collective interests of the state on the altar of loyalty to the Peoples Democratic Party government in the state.
Ondo State Commissioner for Information, Mr. Kayode Akinmade, however, said that the statement by the senator smacked of hypocrisy and sheer ignorance.
Akinmade said, “Lagos is the most indebted state in the country. Why has Boroffice not spoken against Lagos State’s borrowings? Both Lagos and Edo states have just put loan proposals of $200m and $75m respectively to the Federal Government and the senator has not found his voice to caution these states.
“Leaders should think before they open their mouths to criticise and criticisms should be based on objectivity and honesty. There cannot be two rules; if APC governments at the state level are obtaining loans, what stops PDP governments? Boroffice is an enemy of the state. He wants Ondo to be grounded.”
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