CBN’s N50 Billion: Activist criticise CRSG over scandalous act

By Ifere Paul 


The Cross River State Government set up the following companies and acquired a loan of 5 Billion Naira from the Central Bank of Nigeria, CBN. The money was paid into a designated Union Bank account.

The Companies:
1. Cross River State Millet Company
2. Cross River State Sorghum Company
3. Cross River State Banana Company
4. Cross River State Maize Company.

a) The Cross River State Millet Company got 2 Billion Naira.
b) The Cross River State Sorghum Company got another 2 Billion Billion.
c) While the Cross River State Banana Company got 1 Billion.

As at the time of making this post, the 5 Billion Naira domiciled with Union Bank Nigeria Plc has been wiped out.

The account was set up such that only the Accountant General, Joseph Adie and Chairman Maize Company can sign for withdrawal.

Attempts to get hold of SA Banana, Millet, Sorghum, Maize proved abortive as no one that I know had their contact number.

I am forced therefore to throw the story to mainstream journalists like Agba Jalingo, Jonathan Abang Ugbal, Iwara U. Iwara, Ray Ray Ugba Morphy, Comr Onun Endure, Hope Obeten, Efio-Ita Effiom Nyok etc.

Well, we are still on the matter and Calabar Reporters will dig deep to ensure we bring you the latest and in truth.

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