EXCLUSIVE: Access Bank-Funded N50 Billion Contracts Awarded To Wife’s Company By Abia Governor Otti Revealed (Documents)

EXCLUSIVE: Access Bank-Funded N50 Billion Contracts Awarded To Wife’s Company By Abia Governor Otti Revealed (Documents)....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie John

Facts have emerged surrounding the involvement of Craneburg Construction, a company owned by the late Mrs. Chizoba Doreen Wigwe, wife of the late Dr. Herbert Wigwe, former Group Chief Executive Officer (GCEO) of Access Holdings Plc, in a series of contracts financed by a loan from Access Bank. READ THE FULL ARTICLE HERE

TRENDING: “She Has Told Me To My Face Before I Wasn’t Knacking Her Well, I Cannot Kill myself”- Isreal DMW Speaks On His Performance On Bed With Sheila – BushRadio (bushradiogist.com)

Documents obtained by SaharaReporters revealed that Craneburg Construction received a loan from Access Bank to finance N50 billion worth of contracts awarded by the Abia State government.

In a letter addressed to the Abia State government through the Commissioner for Finance, Access Bank confirmed the approval of a N50 billion term loan to Craneburg Construction for the purpose of financing road construction projects awarded by the state government.

The letter, dated October 1, 2023, outlined the terms and conditions of the loan, including the borrower, lender, contract employer, facility type, amount, disbursement process, purpose, tenor, and processing fee.

However, concerns have been raised by residents of Abia State, questioning the transparency and legality of the borrowing process. It is alleged that the contracts did not undergo the official bidding and approval procedures, and there is no specific mention of the roads to be constructed with the borrowed funds.

Sources within the state government have also indicated that the borrowing was not approved by the state House of Assembly, leading to accusations of fraudulent practices and calls for accountability from Governor Otti’s administration.

Efforts to obtain comments and clarifications from the state information commissioner and the Chief Press Secretary to Governor Otti were unsuccessful as they did not respond to calls or text messages.

For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite

Source: Bushradiogist

Stay connected via Google News

Follow us for the latest travel updates and guides.