The Ebonyi Fiscal Responsibility Commission (FRC) has warned public office holders in the state against obtaining loans without its consent.
The Chairman of the commission, Mr Vincent Nwibo, gave the warning on Sunday in Abakaliki in an interview with the News Agency of Nigeria (NAN).
Nwibo said that public officers were expected by law to be prudent in their financial dealings and follow due process while obtaining loans.
“Local Government areas, Development Centre Coordinators and other government institutions are not permitted to obtain loans without the commission’s permission.
“We will henceforth communicate to various banks operating in the state not to grant loans to the aforementioned without our written consent,” he said.
The chairman said that the commission had recruited five trained account investigators to visit financial agencies, revenue points and other relevant establishments to execute this task.
“It is not going to be ‘business as usual’ as these investigators will check remittances, receipts and other stipulated procedures while remitting necessary returns.
“This provision is specified by Law 003 of Ebonyi Fiscal Responsibility Commission and Related Matters Law of 2008,” he said.
He called on civil and public officers at the state and local government levels to exhibit zero tolerance on corruption as the commission would punish erring agencies.
“We will organise more public enlightenment seminars and workshops to create the necessary awareness of our activities among the populace.
“This is to inform and educate the people to be financially prudent, as we believe in the popular maxim which states that ‘ignorance of the law is not an excuse,’’ he said. (NAN)
Source : Leadership