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February 05, 2007
Lagos ANPP threatens to sue Tinubu - Over plan to borrow N14bn
CRISIS is imminent between Governor Bola Tinubu of Lagos State and the All Nigeria Peoples Party (ANPP) in the state over plans by the state government to borrow N14 billion for local governments in the state.
Kayode Akinmade, Lagos - 05.02.2007
ANPP’s governorship candidate, Senator Tokunbo Afikuyomi, said in Lagos at the weekend that the state government would be dragged to court if it continued with its plan to borrow the money.
He also said the state must conduct council elections this month, failure which it would also be dragged to court.
Speaking at a press briefing, the senator said plans by the state government to borrow the N14 billion were in violation of financial regulations and the constitution of the country.
He said that the governor had no business borrowing money on behalf of the councils since they were another arm of government.
“Why borrow money for local governments if you believe in separation of powers? The move is against what we fought for in Lagos State. We are at the forefront of the battle for fiscal federalism”, he said.
The senator warned that any bank that “colluded” with the state government to realise the plan did so at its own risk.
Posted by Publisher at February 5, 2007 02:49 PM
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