Cross River governor, Otu, seeks N24 billion loan to clear pension arrears
Cross River State Governor, Bassey Otu, said his administration has concluded to approach the capital market to raise N24 billion to offset pension and gratuity arrears of retired civil servants.
This is contained in a statement by his Chief Press Secretary, Emmanuel Ogbeche, sent to jpirnalists on Saturday in Calabar.
Mr Otu had in his 100 days address resolved to offset the arrears before the end of the year.
He stated that the last time gratuities were paid to retired civil servants was in 2014.
According to the statement, the governor reiterated his administration’s resolve to clear the backlog of unpaid gratuities owed retirees and emphasised that his government will not allow the aged sleep hungry or remain unable to afford their medications.
“Consequently, funds are being sourced from the capital market to redeem the debts owed retirees by the government.”
(NAN)
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