Oshiomhole plans to sell $75m World Bank loan in black market – PDP

The Peoples Democratic Party (PDP) has alleged that Governor Adams Oshiomhole of Edo state has concluded plans to sell the $75 million World Bank loan at black market rate to raise N10 billion to fund the state governorship campaign for his party, the APC.

The Chairman, PDP Edo state chapter, Chief Dan Orbih, who made the accusation on Monday in Benin while making his delivering his acceptance speech at the state congress of the party where he was re-elected state chairman of the party for a second term of four years. ‎

'In the past few months, a particular bank has donated their private jet to Edo Governor to bring in the $75 million World Bank loan.

'They want to sell it at the black market rate and it will bring in N10 billion. The action is criminal.

'The $75 million is to get at the normal rate and sell at the black market. We have witnessed criminal administration,' Orbih said.

‎But in a swift reaction, the State Commissioner for Information and Orientation, Prince Kassim Afegbuan, who lambasted Chief Orbih, described Chief Orbih as a dunce for making the statement.

Afegbua said; 'If Orbih were not a complete dunce, he would have known that the World Bank is not like Ogbona Community Bank where you can abuse financial procedures. He has just shown the reckless financial orientation of the PDP and their brigandage and voodoo economics. Otherwise he would not even contemplate that a world bank would carry money in sacks and hand over to state government.

'We have repeatedly said it that the PDP has no answer to the challenges of governance. The empty-headedness of their state chairman further compounds their problem. How on earth would a man talk about world bank in such reckless emanations. What a pity. Please I recommend for Dan Orbih a refresher course for him to learn the ropes in modern world bank financial transaction instead of exhibiting manifest ignorance that tends to put Edo people to shame.' - The News.