EXPOSED!! How NGOs, Lawmakers Stop Ayade From Obtaining Additional Loan of $22.7M From Foreign Lenders —Utang


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EXPOSED!! How NGOs, Lawmakers Stop Ayade From Obtaining Additional Loan of $22.7M From Foreign Lenders


RE: Martins Orim:
The Ranting of A Retired Councillor.

I listened to the Ranting of The chief of staff to the Governor Ayade, Martins Orim at a rally in Northern senatorial District of CRS. Hmmmmmmmm, How time flies. Martins has really made progress in the wrong direction – from being a Thug to Being rewarded as counterfeit chief of staff by the Co-Governor Frank Ayade, while the Governors nephew MC Ayade is the original chief of staff. Martins is bored and confused, and you can see it in his ranting.

Despite the face value progress he has made in complexion upgrade, it is obvious that his intellectual capacity has receded in candences. He just exhibited typical case of intellectual malnutrition .

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1. Duke Borrowed funds to build Tinapa and revamp obudu Ranch Resort and left a debt of N79B domestic debt as at December 2007. This is inclusive of the debt he inherited from the military administration.

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2. Liyel Borrowed to develop summit Hill and built CICC, completed several rural infrastructure and left the domestic debt increase to N115B as Dec 2015 ( from the N79B of Duke )
The bulk of Liyel’s Debt included the N40B Recapitalisation Bond created in 2013 which generated over N7B to crs in 2017 ,and subsequently collected by Ayade.

3. Ayade inherited a domestic debt of N115B as at December 2015.

4. As at today,CRS domestic debt after 6 years of Ayade’s Food on the Table Technology is N169.8B( outside the N36B that he Borrowed last year in one day)

5. Between 2015 to 2016 Ayade recieved N7.8B loan as bail out Funds from FGN.
The first tranch of repayment of N1.7B was deducted just a few months ago and they are blaming Duke and Liyel.?

6. In February 2020 Ayade Borrowed N36B in one day after receiving a single day approval from the house of Assembly for industrialisation, that amount is yet to be added to the N169.8B domestic debt Profile.

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7. As we speak Ayade is secretly facilitating a loan of $22.7M from foreign lenders through the FGN to build his super highway.
The only hindrance to that loan is the petitions from NGOS and the resilience of the senators from CRS Central and Southern senatorial districts.

8. Duke and Liyel funded the CRSG Reserve Fund project till 2015 and Liyel after utilising the proceeds of the Fund to build Songhai Farm and ITM Ugep , left over N5.5B in the account.
As at today Ayade has squandered the entire funds, and refused to make a single contribution to the account in the last 6years and subsequently liquidated the account.
Today CRS has no Reserve Fund anywhere.

9. By December 2021 Ayade would have officially Borrowed over N110B as domestic loans alone, almost more than what Duke and Liyel Borrowed in 16 years.

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10. As for foreign debts, the damage of Ayade’s fake Chinese and Malaysian MOUs will leave a foreign debt in excess of $70M .

11. In 16years Duke and Liyel’s cumulative budgets estimates was about N890B While
Ayade’s cumulative budget estimate for 6years alone is about N4.779T.

12. Since 2015, Ayade has been on a perpetual montly overdraft, negotiated at exorbitant rates, most of which have been converted to long term loans.

13. One will wonder, Where Martins got his N300B or N400B domestic debt figures from?
You will find the answer by May 2023.

It is obvious that Martins is having Arithmetic Diarrhea.

But, it is bad Table manners for a Councillor With (FIU) Fake Intelligence Upgrade ) to be joining issues with Governors.

Please you guys should Eat your Food in peace ✌

Bros, Receive Sense!!!!

By Utang Timothy ukaba
Calabar, Cross River State


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