ADHA APPROVES #17 BILLION LOAN FACILITY FOR GOV FINTIRI
Lawmakers at the Adamawa State House of Assembly have unanimously approved the whopping #17billion loan facility as requested by Governor Ahmadu Umaru Fintiri for the execution of critical development projects across the 21 Local Government Areas. It could be recalled that Governor Fintiri had sought the House of Assembly's approval to obtain the facility from 2 commercial banks for the execution of projects across the state. The Governor's request as contained in 2 separate letters, were read at the resumed plenary session presided by the Speaker of the House, Rt. Hon. Aminu Iya Abbas on Tuesday. Fintiri had told the Legislators that #15 billion loan facility will be secured from a Fidelity bank for the tenor of 48 months at 13 percent interest rate and 0.5 percent management fee, saying it will be used to finance critical development projects across Adamawa. According to him, the whopping sum of #2 billion on the other hand will be collected from Access bank Plc at a tenor o...