A statement by Governor Otu, released by his chief press secretary, Gill Nsa, insisted: “This is not true. I have not obtained any loans.
”There’s no record in the annals of the state government that suggests that fresh borrowing was undertaken, since inception till date, both domestic debt and foreign debt.
“We challenge any person, including the DMO, who has evidence of any fresh loan taken under the administration of Governor Bassey Otu to make that public.”
Otu noted that taking fresh loans requires some processes, including seeking legislative approvals.
The statement reiterated that “the governor has not signed nor taken in a fresh loan on behalf of the state.
”In this case, the Cross River State government vehemently rebukes any interest calculation and any surreptitious calculation that portrays the government to have increased her domestic debt profile by N16.2 billion between June and December 2023 and the foreign debt by $57.9 million within the same period.”
