Sir ,as my state is moving with speed unto decline ,we the genuine stakeholders will stand on the Podium of righteousness and cry ,plead and pray because onye na afubero na asi ka ofu [He that has never seen may wish to see ] but we have waded and threaded that Path that led to Prediction and our joint prayer is “WE CAN NO LONGER GO BACK TO MBADINUJU ERA” .
Sir ,did i tell you that your “Would be son in law and Deputy Governor wanna be” lead you astray when he made you took the first 10 BILLION NAIRA loan ,but the most annoying part of it is the interest on the loan .
How can we take loan of 10 Billion and pay interest of 11 BILLION and you did not spot it ? ,you see most of this will militate against you in any election because opponents will start digging deep to know how you worked in the bank and what was the record ,then they may look Deeper into that TEXACO [Anyi resiri fa ogwu kara aka during campaign] ,like i said in my last Report Card ,they may even think that the Texaco in question is just one Filling Station but i digress.
See the table of explanation for the Loan taking and the would,ve been interest after 10 years .
ANAMBRA PAYS 21 BILLION NAIRA FOR THE 10 BILLION LOAN
29th November, 2015 • Editor East
ACCESSING CBN INFRASTRUCTURE DEVELOPMENT FACILITY
1. Terms of CBN Infrastructure Development Facility
• Size of Facility: Up to N10,000,000,000
• Interest Rate: Maximum of 9.0%
• Tenor: 20 years or 240 months
• Type of facility: Soft loan to ease pressure in States and not Bailout Funds
1. Conditions Precedents for Approval by CBN
• Governor to prepare letter to the Central Bank of Nigeria & Federal Ministry of Finance (FMF) conveying its application to access the infrastructure facility, amount required and account details to be credited
• State Executive Council resolution to access the facility and exact use of proceeds
• State House of Assembly resolution to access the facility and exact use of proceeds
• Irrevocable Standing Payment Order letter to FMF and commercial bank in respect of the CBN infrastructure facility
• Letter to FMF stating the State’s level of indebtedness (already due contractor obligations and payments may suffice)
• Offer letter from commercial bank to the State conveying above-stated terms of the facility.
1. Indicative Amortization Schedule
Years
Beginning Balance
Interest
Principal
Ending Balance
Monthly Payment
1
10,000,000,000
900,000,000
195,464,750
9,804,535,250
89,972,596
2
9,804,535,250
882,408,172
213,056,578
9,591,478,672
89,972,596
3
9,591,478,672
863,233,081
232,231,670
9,359,247,003
89,972,596
4
9,359,247,003
842,332,230
253,132,520
9,106,114,483
89,972,596
5
9,106,114,483
819,550,303
275,914,447
8,830,200,036
89,972,596
6
8,830,200,036
794,718,003
300,746,747
8,529,453,289
89,972,596
7
8,529,453,289
767,650,796
327,813,954
8,201,639,335
89,972,596
8
8,201,639,335
738,147,540
357,317,210
7,844,322,126
89,972,596
9
7,844,322,126
705,988,991
389,475,759
7,454,846,367
89,972,596
10
7,454,846,367
670,936,173
424,528,577
7,030,317,790
89,972,596
11
7,030,317,790
632,728,601
462,736,149
6,567,581,641
89,972,596
12
6,567,581,641
591,082,348
504,382,402
6,063,199,238
89,972,596
13
6,063,199,238
545,687,931
549,776,819
5,513,422,420
89,972,596
14
5,513,422,420
496,208,018
599,256,732
4,914,165,687
89,972,596
15
4,914,165,687
442,274,912
653,189,838
4,260,975,849
89,972,596
16
4,260,975,849
383,487,826
711,976,924
3,548,998,925
89,972,596
17
3,548,998,925
319,409,903
776,054,847
2,772,944,079
89,972,596
18
2,772,944,079
249,564,967
845,899,783
1,927,044,296
89,972,596
19
1,927,044,296
173,433,987
922,030,763
1,005,013,532
89,972,596
20
1,005,013,532
90,451,218
914,562,314
0
89,972,596
Total of 240 payments: N21,909,295,002
Total interest payments: N11,909,295,002
Mark Okoye
Special Adviser to the Governor on Economic Planning & Budget
LINK- http://www.thesoutherngong.com/2015/11/anambra-pays-21-billion-naira-for-the-10-billion-loan/
Sir ,this is where my oldman will cry “akpukpu di na utara akari go nne nri” [The Lumps in the pounded Cassava is more than the edible part ] ,and if one tries to argue with him on why he should see it differently ,he will intone “ewelu ohu nkwu pia eze ,amuta one na amu ?” [If you spend a fortune to shape your teeth ,how much will you get from the smile that comes from it] .
Sir ,before i move back into the latest FINANCIAL BORROWING MODE ,let me quickly beg you to address whatever problem that cause NGOZI PROTOCOL ,otherwise called NGOZI –OSY AGBATA one of your Most Powerful SSA on Protocol[But without any type of training on Protocol matters] from ANAM to Land a very Hot and Juicy slap on the left ear of SA ON Political MATTERS MR CHINEDU OBIDIEGWU at OJOTO RALLY.
Just Because Chinedu organized the little Girls that Danced for you ,then she started poking her fingers on Chinedu’s face ,when the young man did not want to do anything but remove her hand from his face ,she Landed a very Hot stinging slap on his face in public ,a face of a man ?.
Sir in igbo parlance we would wonder ,if she can slap another man in public ,her husband will be wearing DUNLOP on his ears all the time ,but ,this is what we get when we have so many SA and SSA Usurping the functions of one another ,as we speak ,the SSA and SA carry more influence than the Commissioners ,but my concern is that if this Slapping mode continue ,very soon the men cannot take THE SLAP and lie low ,they may return the SLAP and aka awuo .
Sir ,I also want to complain that all the Vice Chairman of Local Governments are getting Ready to take the Government to court because of the 28 DAYS HOTEL FUND that is due for them ,which some powers along the corridor is trying very hard to seat upon ,but the Vice Chairmen swore and i quote “anyi ga ata ya ofu ukwa ,ofu aki” [One piece of dry breadfruit vs one Kernel] .
Sir ,i was complaining about the 10 BILLION NAIRA Loan we took ,which we got the CLOWNS in our ANAMBRA HOUSE OF ASHAMEBLY to issue a post dated permission ,the loan which has been spent many moons before the approval were sent or seek from those WEAKLINGS .
Sir ,I was more distressed to learn that the current Loan we are pursuing is no longer 25 BILLION but 50 BILLION .I said it ,the problem is in the first take ,after the first Loan was secured and spent ,other ones will be easier and now our state is about to get indebted for generations to come. I asked a Financial guru the implication of this massive loan and he said that the Interest alone of that money will take 3 generations of constant paying to make a dent on it.
The Irony is that Anambra will start the New year with borrowing ,as we seek BOND of 50 BILLION to execute Projects including the MONUMENT OF CEMENT at AROMA,KWATA and AMAOBIA ,the question is why can’t we know how much such contracts were awarded ? .
In the days of Obi ,you bring a BANK LETTER OF GUARRANTTEE and the Government will give the bank the Mobilisation fee ,when you have done the Job covering the Money the Bank is Holding ,the Government Engineers will inspect and issue a CERTIFICATE which in turn will be used to pay for the 30% job you,ve done so far ,and so to next stage and meaning there is no way you can make away with the Government money or do shoddy job ,if you do you will waste more than 90% of your profit begging the contractors to approve .
But as is it now ,those that are getting paid at all ,must come from AGULERI and 100 percent upfront ,making a high risk venture . Moving on with Love ..
MY GOVERNOR ,let me bring to your Notice the DEAL that is going Sour now . Sir you remember you granted 100 MILLION to Commissioner for WORKS ,MR LAW CHINWUBA to carry out Palliative measures on our Roads ,we remember your Media Misfits flooded Social Media with Wheel Barrows ,Shovels and Rain Boot as evidence of WORK will commence soon ,but till now nothing is happening ,but that is not the bad news .
Law Chinwuba and EMEKA OKOYE under ANAMBRA ROAD MAINTAINANCE AGENCY [ARMA] they brought out most of the equipments bought by Okwute and they bought few Shovels and Head Pans and declared that they used 35 MILLION NAIRA ,unu na agwa ewu [they are talking to goats].
The Trouble now is that the PERM SECRETARY at the Ministry of Works refused to be part of the Conspiracy ,they wanted him to sign ,so they can retire the Money as Job done ,but the Perm Sec said that POSTERITY will not be fair to him if he aid that ,they gave him Big Large Envelope to help change his mind and he still refused ,as we speak ,they have colluded ,conspired and drafted a SACK letter waiting for your Signature for the PERM SEC ,just because he refused to embrace the mid day rape of our economy .
Sir , kindly ask those that proposed that sack to get the hell out of your face ,they are the ones to be avoided by all cost .
Sir,that NKPOR Gully which Obiri Ohamadike Aka na ani influenced ,seems the job has stopped ,maybe after the initial gra gra ,everything went back to status quo .
Finally Sir , Kindly try and tell her the implication of ISSUING DEATH THREAT ,she sent tons of TEXT messages insulting and intimidating an innocent good man ,but the one that is shocking is where she made DEATH threat to his Family ? .She may not mean it or mean it ,but incase of any eventuality ,that TEXT will be used as evidence of BLOOD ON HER HAND .
Mazi Odera ,from your report card excerpts.......
The Permanent Secretary ministry of Works you were talking about have finally been removed from office.
He has been posted to ministry of information.
The SA works Engr Emeka Okoye and the commissioner of Works Suv Chinwuba are instrumental to it.
This is because he did not allow them to misappropriate money released to the ministry for road markings and sign done by one Al Pee.
Since then they have been trying to nail him. Now they have removed him, they have perfected the way to corruptly enrich themselves. Anambra is in deep sheet.
THAT PATH TO PERDITION ON TUESDAY REPORT CARD by MAZI ODERA 1/12/15
Reviewed by Unknown
on
Tuesday, December 01, 2015
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Reviewed by Unknown
on
Tuesday, December 01, 2015
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