$300m Loan Claim: Obinna Oriaku Chides Omerekpe, Says Loan Still In Process

A former Abia State Commissioner for Finance and APC chieftain, Mr Obinna Oriaku, has reacted to a claim made by Chief Ncheta Omerekpe, a PDP 2023 governoship hopeful accusing the PDP-led administration of Okezie Ikpeazu of squandering the $300 million dollars loan he facilitated for the state.

Oriaku, while reacting to the story said, “no single individual can approach ADFB outside the State”.

He wrote:

“While I appreciate that this is enough distraction especially for my self whose name was mentioned here . I have decided to respond and put an end to this unnecessary distraction

“Naturally , as an opposition I should be standing aloof laughing as they party in power ridicule themselves further.

“However, as an Ngwa man, at the end of the day they are laughing at us. While we prepare for APC takeover of Abia . kindly note of the following.

“Ncheta is wrong to have said he ” secured a loan of $300m for Abia state as no single individual can approach ADFB outside the State and ended up mentioning my name .

“If any state is interested in foreign loan through any of the donor agencies. It must pass through the national assembly.

“The national assembly captures these loans from various state as they are included in national borrowing plan of the federation for the following year budget .

“Abia just like other states went before the committee on appropriation , local and foreign loan to present their request .

“On that day Kaduna ‘ kano . Jigawa and Enugu all presented. This was handled either by the Commissioner of finance of any of these states or that of Economic planing.

“The national assembly members from these states are allowed to support such request with their presence.

“On Abia, Obinna Oriaku then Com.for finance presented Abia request and not any other person just like other states mentioned above….No consultant did that for Abia but then Commissioner Obinna Oriaku .

“Bar Bob Ogu and his team were there including Emeke Ononiwu the SA on forgine donors . The only legislature from Abia on that day that witnessed the presentation was Sen TA Orji who was a member of one of the committees.

“After the presentation which was wonderfully done, The house is expected to communicate their approval or disapproval to Federal Minstry of finance ‘ SGF and DMO.

“It was at this point we noticed the sabotage from some group who wanted to frustrate this project using the office of then Clark of the national assembly.

“They deliberately changed the loan amount from 300m to 200m and from ADFB to RAMP.

“It as at this point we started reaching out to our people with contact in national assembly to help us stop those sabotaging the efforts of the government in securing approval from the national assembly.

“Its instructive to note that the process of this loan does not start and end in National assembly.

“No doubt Necheta came handy in using his relationship with the Clark to assist in stopping that deliberate effort of that office in stopping the loan by falsifying details of the loan .

“It’s however not enough to say that he ” secured loan ” for Abia as an individual or as a consultant.

“I can’t remember Ncheta was formally engaged to help stop the sabotage but he reached out to his contacts and the problem of falsification of details in the national assembly communication was stopped and we moved to the next stage .

“Its also instructive to note that the said loan is still being processed…It’s yet to be concluded four years after which is also not good for us as a State.

“I’m sure this puts an end to all the stories and I wish to be left out of this while I focus on the new Abia which is said is possible.”

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