Delta N150Billion Loan Deal: Advocacy Group Writes Zenith Bank

By Frank Oshanugor

Not convinced with the explanations offered by Delta State Governor Ifeanyi Okowa; a fortnight ago with respect to the N150Billion loan being packaged by Zenith Bank Plc, a watch dog group; The Citizens Advocacy for Social & Economic Rights (CASER) has written to the management of Zenith Bank requesting for relevant documents and other information detailing the terms and conditions attached to the application by Delta State Government seeking the loan.

In a letter to Zenith Bank dated May 10, 2022 and signed by the Executive Director of CASER, Mr. Frank Tietie (a copy of which was made available to AtlanticNewsonline ), the group said it was writing in line with the Freedom of Information Act provisions. The letter reads:

“The Citizens Advocacy for Social & Economic Rights (CASER) in the exercise of the right to access information pursuant to the relevant provisions of the Freedom of Information Act, hereby writes to request for all the relevant documents showing the terms and conditions relating and attached to the much-publicised application by the Delta State Government for a loan sum of 150 Billion Naira from Zenith Bank Plc.

“This request is made in the public interest and particularly on behalf of citizens of Delta State who have expressed beliefs that some of the arrangements and processes associated with the said loan transaction are manifestly tainted with corruption, self-interest and clearly against future financial stability of the state, thereby negating the interest of the people of Delta State in general.”

The letter added that, “the information herein requested is therefore important to either confirm or debunk the presumption of corruption and to offer opportunity to the public to make inputs and suggestions to the overall interest of the government and people of the state.”

“To the above end, CASER undertakes by this request to pay all such appropriate and reasonable fees where necessary to facilitate the urgent obtainment of the information herein requested.”