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Senator Ifeanyi Ubah Threatens to Sue Governor Obiano over N25bn DMO Notes

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Anambra Senator Ifeanyi Ubah (YPP), has threatened to sue Anambra Governor Willie Obiano if he does not respond to a 48-hour ultimatum to explain how the state utilized N25 billion in promissory notes issued to the state government by the federal government through the Debt Management Office (DMO).

Mr Ubah, a flamboyant and controversial oilman who stunned analysts by winning the Anambra South senatorial district in 2019 as the candidate of the virtually unknown Young People’s Party, is widely believed to be eyeing a gubernatorial run and has been ratcheting up his attacks on Mr Obiano, an unpopular incumbent, who has been pilloried for his odd fashion sense.

Mr Ubah said that is Mr Obiano failed to provide a satisfactory explanation of how the notes were utilized then he would file a lawsuit compelling the governor to provide all the requisite details.
The Debt Management Office (DMO) had in December 2018 and April, 2019 issued seperate Promissory Notes to the Anambra State Government to the tune of N10.097 billion and N15.146 billion respectively.
The two Promissory notes which were issued to settle the outstanding claims for rehabilitated roads however had maturity dates of December 28, 2020 and April 1, 2022.
The Vice Chairman of the Senate committee on Petroleum (Downstream), however faulted the collection of the money before the maturity dates.
He alleged that ahead of the maturity dates of the promissory notes, Governor Obiano, had discounted the two Promissory notes and collected only N16 billion instead of the N25 billion, a situation he claimed made the state to lose the sum of N9 billion.
According to him, the N25 billion in question was for works done by Ex-Governors Chris Ngige and Peter Obi in terms of infrastructural development on behalf of the Federal Government.

“Why did Obiano discount Anambra money. What did he do with the cash realised? Why didn’t Obiano capture this in the budget he presented for the year?”


“Why did he withdraw future state funds which he didn’t work for? Why would Obiano, a banker, throw away eight billion Naira and where is the balance now deployed to?” asked Mr Ubah rhetorically.

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