Ebonyi Governor, Martin Elechi In N16.5 Billion Bond Scandal

Posted by African Examiner Featured, Latest Headlines, News Sunday, November 16th, 2014

Governor Martin Elechi of Ebonyi State has been accused of mismanaging the N16.5 billion bond obtained from the capital market in 2010 for the execution of certain capital projects in the state — the International Market, the State Secretariat, Oforekpe Water Scheme.

The indictment was contained in a letter written and signed by a factional speaker of the Ebonyi house of assembly Mr Chukwuma Nwazunku and sent to president Goodluck Jonathan urging him to withhold his approval of the second bond of 15 billion sought by Governor Elechi.

Ebonyi state governor, Chief Martin Elechi

Mr Nwazunku further indicted the governor of diverting the bond money noting that the projects that the money was meant for “are scarcely attended to, to the extent that even in the next one-year the project will never be implemented.”

His words: “Since our approval of the second bond, however certain revelations have come to light to warrant keeping the second in view pending a proper detailed briefing of the house on the use of the first bond.

“It does not appear as if the first bond has been properly used in view of the fact that the target projects the bond was meant for was scarcely attended to, to the extent that even in the next one-year the project will never be implemented.

“We have requested for proper briefing on the use of the first bond but rather that do so, all hell has been let loose on some house members. We are, however, not bothered by this state of affairs.

“In view of the fact that the target projects for the first bond obtained will still take over one year to complete, and in view also that the tenure of the present administration will be rounding off in the next 6 months, we respectfully invite your excellency to graciously withhold your kind approval of the new second bond which the Ebonyi state government has applied for pending when our relevant committee is properly briefed on the use of the first bond.”