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Thursday, July 25, 2024

SEC Impressed By the Utilization of N50b Bond Secured By Delta from The Capital Market, Says Arunma Oteh



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The Director General of the Security and Exchange Commission (SEC), Dr Arunma Oteh has said that the utilization of the 50 billion Naira bond secured by the Delta State Government was “absolutely outstanding and transformational.”

Oteh who gave the verdict while fielding questions from journalists in Asaba after inspecting some of the projects executed with the bond’s fund in Warri and Asaba, said her team from the Commission was excited with the quality of projects executed.

She also said the impact of some of the projects was inspirational and unique adding that the projects will boast the socio-economic, educational and infrastructural development of the state.

According to her, the team was satisfied with the utilization of the 50 billion naira bond given to the Delta state government and that SEC would readily release the balance 50 billion naira bond whenever the state government requested for it.

Oteh who also inspected dualised roads and model primary schools, said she was particularly impressed with skills being impacted to physically challenged children at the Alder’s Town Primary School for the Deaf and Dumb.

The Director-General who is also the Chairperson of the Capital Market Retreat Committee, inspected the 100-bed Mother and Child Healthcare Complex at the Warri Central Hospital, noted that the focus of the state government in caring for women and children was critical as it has reduced maternal and child mortality.

“As a woman, I am really impressed with the attention being given to education and health issues by Mr. Governor,” the Director General added.

Her words ‘’I can say that these projects are absolutely outstanding and fantastic. The model schools are a window to academic excellence and Delta state as a whole will soon become the economic destination of the nation’’.

Accessing the projects one after the other the Director General described the Airport as a catalyst that would create numerous job opportunities and increase the internal revenue profile of the state.

Oteh also said that the airport will give the state capital a face lift and accelerate the infrastructural development of the town.

Explaining that most of the primary and post primary schools she visited were in a class of their own, Oteh was optimistic that the conducive environment of the schools would broaden the student’s scope of intelligence and improve academic excellence.

Emphasizing further she said ‘’These schools are so unique, so impressive and outstanding and they have the potential to attract the children of the rich. I think it is likely to make the rich to withdraw their children from private schools to these model schools.’’

The Director General who also inspected roads said the dualization of the roads have the advantage of boasting the economy of the state just as she said that the roads will attract industries to the state.

Oteh commended Governor Uduaghan for putting in place the mechanism to monitor projects in the state explaining that the checks and balances put in place have made it possible for projects to be executed to specifications.

Conducting the Director General round the projects Delta state governor, Dr Emmanuel Uduaghan disclosed that the bond has been utilized effectively to transform the state and improve the living standards of the people.

Dr Uduaghan said the bond has been used to execute programmes in the three-point agenda of Human Capital Development, Peace and Security and Infrastructural Development.

He assured that all ongoing projects tied to the bond would be religiously completed on schedule.

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