Obaseki left over N1.2trn debts –Edo Govt

The Edo State Accountant Accountant-General, Mr Julius Anelu, has said that the internal debt profile of the state government as at November 11, 2024 stood at N1 trillion.

He disclosed that the external debt stood at N282 billion, attributing the increase in the debt profile to depreciation in the value of the naira.

H said through investigations, the committee would discover that most of the loans were channeled directly to the agencies for which they were secured.

Anelu however pledged to furnish the committee with all the necessary and vital documents in order to make the job less cumbersome.
On the mode and method of contract executions and payments, the Accountant- General explained that that most of the payments were made through the commercial banks that served as sureties for the contractors and financed their.

He said most of the contractors used First Bank Plc through which payments were made to them.
“The Permanent Secretary, Ministry of Budget and Economic Planning would appear before the committee to explain the budget implementation and performance since 2017,” he added.

He said most of the contractors used First Bank Plc through which payments were made to them.
“The Permanent Secretary, Ministry of Budget and Economic Planning would appear before the committee to explain the budget implementation and performance since 2017,” he added.
Anelu assured the committee of his willingness to comply with its demand by making available all relevant documents