Yesterday 18th April 2018, the vision driven Rt. Hon. Eteng Jonah Williams presented a report of the Finance and Appropriation Committee requesting for the Cross River State Government to issue up to 20 Billion Bonds under the already existing 40 Billion Bond issuance programme at the Cross River State House of Assembly Hallow Chamber. Apparently, the reasons for the request was for the proceeds to be used to augment the near zero inflows from Federal Government allocation to execute vital development f programmes and to serve as a catalyst for the actualization of the signature projects of the state. The aforementioned committee having met on Friday the 24 of November, 2017 to review the states bond issuance programme, involved members of the state economic team in the persons of Mr. Asuquo Ekpenyong Commissioner of Finance, Peter A. Bassey Solicitor General & Permanent Secretary Ministry of Justice, Akwagiobe Richard A. Ministry ofJustice, Dr. Ignatius A. Atsu, Director general MEDA, Terence Samuel manager SME, MEDA, Ikang Gabriel Francis Permanent Secretary, Ministry of Finance, Eteng O. I wara Deputy Director, PRS Ministry of Justice, Akonjor S. Akonjor Director of Budget, Budget Monitoring & Evaluation Department, Christopher Ubi Okoi Office of the State Auditor General, Ajah F. Ajah MOF (STATE FINANCIAL POLICY MGT), Imbufe, Joseph Ada Director, Debt Management Dept, Natbill James Essien State Planning Commission, Godwin Akwaji Special Adviser, Revenue and Account Matters, Sir Joseph Adie Accountant General. All government functionaries to understudy its briefed on the state debt profile and other matters connected there with. The bond when approved will serve as a funding option with low interest rate and long maturity period. It is believe that if it can be accessed by anybody including the state government with little or no worries as it stands safer and regardless of the delisting of Cross River State, despite Federal Government’s dwindled inflow, this source of funding if approved will fill in the gap it is meant to said Rt. Hon. Eteng Jonah Williams. The deep Seaport, Super-Highway and Haulage city will be given priority as they are heavy revenue generating entities. Therefore as presented, Rt. Hon. Eteng Jonah Williams recommended that 1. The laudable and breath taking projects of His Excellency, the Governor of cross river state, 2. The lean resources accruing to Government from both Federal and Internal sources. 3. The transparent and accountable process put in place by present administration to manage the state debt and finances 4. The low interest rate and long period of maturity of the bond issuance programme. 5. The huge expected rate of returns on investment Considered and be all the bond earns its approval for the cross river state government to issue up to 20 billion worth bonds under the existing 40 billion bonds issuance programme. In attendance were the below committee members and others, the Speaker Rt. Hon.John Gaul as ex-officio Rt. Eteng Jonah Williams Chairman, Hon. Regina Anyogo Vice Chairman, Hon. Hillary Bisong member, Hon. Elizabeth Ironbar Member, Hon. Odey Peter Agbe member, Rt. Hon. Okon Ephraim Member, Rt. Hon. Simon Nkoro member, Rt Hon. John Gaul Lebo Speaker, Ex-Officio Member, Rt. Hon. Joseph Bassey Dep. Speaker- Ex-Officio Member, Rt. Hon. Moses Ucheche House Leader- Ex-officio member. At the end was the successful presentation of the report cum request, to the cross river state house of assembly yesterday April 18tth 2018
Yesterday 18th April 2018, the vision driven Rt. Hon. Eteng Jonah Williams presented a report of the Finance and Appropriation Committee requesting for the Cross River State Government to issue up to 20 Billion Bonds under the already existing 40 Billion Bond issuance programme at the Cross River State House of Assembly Hallow Chamber. Apparently, the reasons for the request was for the proceeds to be used to augment the near zero inflows from Federal Government allocation to execute vital development f programmes and to serve as a catalyst for the actualization of the signature projects of the state. The aforementioned committee having met on Friday the 24 of November, 2017 to review the states bond issuance programme, involved members of the state economic team in the persons of Mr. Asuquo Ekpenyong Commissioner of Finance, Peter A. Bassey Solicitor General & Permanent Secretary Ministry of Justice, Akwagiobe Richard A. Ministry ofJustice, Dr. Ignatius A. Atsu, Director general MEDA, Terence Samuel manager SME, MEDA, Ikang Gabriel Francis Permanent Secretary, Ministry of Finance, Eteng O. I wara Deputy Director, PRS Ministry of Justice, Akonjor S. Akonjor Director of Budget, Budget Monitoring & Evaluation Department, Christopher Ubi Okoi Office of the State Auditor General, Ajah F. Ajah MOF (STATE FINANCIAL POLICY MGT), Imbufe, Joseph Ada Director, Debt Management Dept, Natbill James Essien State Planning Commission, Godwin Akwaji Special Adviser, Revenue and Account Matters, Sir Joseph Adie Accountant General. All government functionaries to understudy its briefed on the state debt profile and other matters connected there with. The bond when approved will serve as a funding option with low interest rate and long maturity period. It is believe that if it can be accessed by anybody including the state government with little or no worries as it stands safer and regardless of the delisting of Cross River State, despite Federal Government’s dwindled inflow, this source of funding if approved will fill in the gap it is meant to said Rt. Hon. Eteng Jonah Williams. The deep Seaport, Super-Highway and Haulage city will be given priority as they are heavy revenue generating entities. Therefore as presented, Rt. Hon. Eteng Jonah Williams recommended that 1. The laudable and breath taking projects of His Excellency, the Governor of cross river state, 2. The lean resources accruing to Government from both Federal and Internal sources. 3. The transparent and accountable process put in place by present administration to manage the state debt and finances 4. The low interest rate and long period of maturity of the bond issuance programme. 5. The huge expected rate of returns on investment Considered and be all the bond earns its approval for the cross river state government to issue up to 20 billion worth bonds under the existing 40 billion bonds issuance programme. In attendance were the below committee members and others, the Speaker Rt. Hon.John Gaul as ex-officio Rt. Eteng Jonah Williams Chairman, Hon. Regina Anyogo Vice Chairman, Hon. Hillary Bisong member, Hon. Elizabeth Ironbar Member, Hon. Odey Peter Agbe member, Rt. Hon. Okon Ephraim Member, Rt. Hon. Simon Nkoro member, Rt Hon. John Gaul Lebo Speaker, Ex-Officio Member, Rt. Hon. Joseph Bassey Dep. Speaker- Ex-Officio Member, Rt. Hon. Moses Ucheche House Leader- Ex-officio member. At the end was the successful presentation of the report cum request, to the cross river state house of assembly yesterday April 18tth 2018 
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