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Thursday, June 13, 2024

Loans to Amaechi May Not Be Recoverable – Rivers Group Warn Financial Institutions

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The Rivers State Patriotic Youth Assembly(RSPYA) has warned financial institutions on the consequences of advancing ridiculous loans to the Rivers State Government under Hon. Rotimi Amaechi saying the loans may not be recoverable after Amaechi’s tenure expires.

President of the group Comrade Joseph Harry Itenyi made this known to media men yesterday at the end of an extra-ordinary meeting of the RSPYA in Port Harcourt.

Itenyi said the status of the Rivers State House of Assembly(RPYA) remains questionable following the defection of members who were elected under the PDP platform to the APC and the fact that the Assembly’s business has now been shifted to Gov. Amaechi’s palour in government house, Port Harcourt.

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Itenyie noted that although he is not a card carrying member of any political party, he is confident that the decisions of the Government House Rivers Assembly will be brought to question in the law courts.

He warned that should the courts nullify all proceedings taking place outside the assembly complex by defected legislators, it is doubtful if the loans advanced to the government under these circumstances will be recoverable.

Itenyie therefore called on financial institutions to be cautious and understand the risk of further advancing loans to the Amaechi’s government.

Signed:
Burabari Yorghor

PRO, RPYA

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