Rivers government urges Banks not give loan to Councils

image source greeneuropeanjournal

image source greeneuropeanjournal

Port Harcourt, June 2, 2015 (NAN) Gov. Nyesom Wike of Rivers on Tuesday ordered banks and other financial institutions not to grant loans to Local Governments, ministries or parastatal in Rivers without his consent.

A spokesman for the governor, Mr Opunabo Inko-Tariah, said in a statement in Port Harcourt that the governor warned that any bank or financial institution that went ahead to grant loans, would be doing so at their own risk.

“Anybody, person or institution that grants loans to local government councils, ministries or parastatal without his express and written approval, does so at their own risk.

“The Public is hereby warned and financial institutions are also warned not to approve loans without his consent,’’ it said.

The statement said the order was with immediate effect

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