News Column

Zaccima Expresses Concern Over N3 Billion CBN Loan

July 31, 2014

Phillip Oladunjoye

Zamfara Chamber of Commerce, Industry, Mines and Agriculture (ZACCIMA) has expressed fear over move by some members of the state House of Assembly against the intention of the state government to secure a loan of 3 billion Naira from Central Bank of Nigeria (CBN) for trade promotion in the state.

The president of the chamber, Bello Musa Mobil, had in a statement, expressed dismay that the move by the opposition members of the state House of Assembly to stop efforts by the state government to secure access to Central Bank of Nigeria's (CBN) facility is unfounded.

He said the (CBN) has laid down rules and regulations for all stakeholders to meet to qualify and have access to the facility aimed at promoting trades so as to fight against unemployment and poverty.

"I want to use this medium to enlighten the general public and the opposition members that the loan is meant for the general public in order to address unemployment and also reduce the level of poverty through the capitalization of small and medium scale enterprises in the state," the statement said.

He said that some governments from the North-West comprising Kano, Sokoto, Kebbi, Katsina and Kaduna had since accessed the CBN facility, saying that it was time for Zamfara state to join its counterparts to benefit from the gesture so as to curb the obstacles derailing the economy of the state.

He recalled that eight opposition members of the state House of Assembly from the Peoples Democratic Party (PDP) had moved against the loan, which led to the breaking of the House Mace as a result of the fight which ensued among members.

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Source: AllAfrica

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