The Delta State House of Assembly has approved N40 billion loan request for Governor Sheriff Oborevwori.
Daily Report Nigeria reports that the move is to allow the Governor access a N40bn credit facility to clear a backlog of pension arrears for teachers in the state.
The approval was given by the 8th assembly at its maiden plenary on Tuesday after Speaker of the House, Emomotimi Guwor, read the Oborevwori’s letter of request.
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Oborevwori in his letter, noted a collaboration between the state government and local government areas in the state towards reducing accumulated pensions owed to retired primary schoolteachers and local government employees.
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The letter also stated that Zenith Bank Plc had made the said facility available for the 25 local government councils in a prorated manner, in tune with their respective indebtedness to pensioners, for which offer letters had been issued to the councils by the bank.
Majority Leader of the House and member representing Aniocha North Constituency, Emeka Nwaobi, moved the motion for the approval, while the member representing Sapele Constituency, Perkins Umukoro seconded.
