By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Don’t Give Fresh Loan To Gombe – Stakeholders Tell CBN
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Don’t Give Fresh Loan To Gombe – Stakeholders Tell CBN

News

Don’t Give Fresh Loan To Gombe – Stakeholders Tell CBN

Daily Report Nigeria
Daily Report Nigeria
Published: June 13, 2025
Last updated: June 13, 2025
4 Min Read
Share
Don’t Give Fresh Loan To Gombe - Stakeholders Tell CBN | Daily Report Nigeria
SHARE
The Gombe Good Leadership Association (GGLA) has called on the Central Bank of Nigeria (CBN) not to give any fresh loan to the Gombe state government.

In a statement issued on Friday by Salisu Abdullahi, one of GGLA trustees, the group expressed worry that the state government led by governor Inuwa Yahaya has ignored calls to avoid accumulated debts with the danger of mortgaging the state’s future.

The statement reads: “The public will recall that we have recently made a press release concerning the spate of borrowing by the Muhammadu Inuwa Yahaya-led administration of Gombe State,”

“Just when we thought we had seen it all from the governor, a copy of the letter by the governor to the Honourable Speaker of the Gombe State House of Assembly dated October 20, 2021 with reference number GO/GD/FED-98/V.I proved us wrong.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

Also Read: Nigeria’s 2022 Budget Filled With Debts, Loans – CUPP

“In the letter, the governor is requesting for the resolution of the Gombe State House of Assembly, allowing him to access the Federal Government’s bridging finance facility in the sum of N18,746,059,992.57bn.

“The governor claimed Mr. President approved N656,112,9,740.03bn bridging finance to 35 states of the federation to cushion the effect of the repayment of the existing Federal Government intervention facilities (Budget Support Facility, Excess Crude Account- Backed Loan Facility and Salary Arrears Bailout Facility.

“For emphasis, we reiterate that the Muhammadu Inuwa Yaya-led administration of Gombe State has between March 2020 and July 2021 procured the following debts: “N14.5bn from Guaranty Trust Bank Plc; N2bn to finance healthcare infrastructure development in Gombe State; N12bn credit facility from Guaranty Trust Bank Plc; N10.8bn from United Bank for Africa Plc, and N5bn from Family Homes Funds for the provision of one thousand units of affordable housing units.

“The above-listed debts do not include the N11bn borrowed by the previous administration for the Gombe Revenue Optimisation Company Limited but received by the present government. This N11bn brings the total amount of money obtained as debt by the Muhammadu Inuwa Yahaya-led administration within a space of a little over two years to N55.3bn.

Also Read: Nigeria Must Decisively Tackle Its Debt Challenges; Akinwumi Adesina

“If the governor is allowed to obtain the N35bn debt that has been hurriedly approved by the Gombe State House of Assembly on October 13, 2021 and the proposed debt of N18,746,059,992.57bn for which it is seeking approval in his latest letter to the Speaker of the Gombe State House of Assembly, the governor would have succeeded in amassing a total debt of over N109bn in a little over of two years of his administration.

“There is no gainsaying that the debt service to the overall revenue of Gombe State is excessive and inimical to the economic and developmental aspirations of the state.

“From the Governor’s showing, the revenue of the state cannot even take care of the recurrent and debt servicing portfolio of the State.

“The Federal Government has been indulging State Governors and pressuring the Central Bank to lend monies (it doesn’t have) to Governors under all sorts of dubious projects and schemes.

“We therefore call on the Central Bank to resist any temptation to further advance any loan to the borrowing Governor of Gombe State who is hell-bent on mortgaging the state to satisfy his selfish ends.”

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:Daily Report NigeriaGombe
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Federal Gov't Hands Over Houses to 1994 Super Eagles Heroes After 31 years | Daily Report Nigeria
Federal Gov’t Hands Over Houses to 1994 Super Eagles Heroes After 31 years
Sports
Transfer : Super Eagles Forward Moses Simon Seals €7m Move to Paris | Daily Report Nigeria
Transfer : Super Eagles Forward Moses Simon Seals €7m Move to Paris
Sports
Faulty Seat Blamed for Air India Crash | Daily Report Nigeria
Faulty Seat Blamed for Air India Crash
News
JUST IN: Al-Nassr Part Ways with Coach Stefano Pioli | Daily Report Nigeria
JUST IN: Al-Nassr Part Ways with Coach Stefano Pioli
Sports
PDP Reinstates Anyanwu, Cancels NEC Meeting After INEC Warning | Daily Report Nigeria
PDP Reinstates Anyanwu, Cancels NEC Meeting After INEC Warning
Politics

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

Troops Recover Arms From IPOB, ESN Camp in Anambra
News

Sokoto: Nigeria Troops Neutralise several Terrorists

June 13, 2025
Otuaro Condoles With Family on Mamamu's Demise, Pays Respect | Daily Report Nigeria
News

Otuaro Condoles With Family on Mamamu’s Demise, Pays Respect

June 15, 2025
Imo APC Tells Okorocha To Resign | Daily Report Nigeria
NewsPolitics

Imo APC Tells Okorocha To Resign

June 14, 2025
Pastor Taiwo Odukoya Loses Second Wife to Death | Daily Report Nigeria
News

Pastor Taiwo Odukoya Loses Second Wife to Death

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?