Nigeria: Akwa Ibom Explains Reasons Behind Bank Loan Restructuring

31 August 2015

Akwa Ibom State Government has explained misconception over the proposed restructuring of its commercial bank loans to federal government bonds.

Explaining government's position on the issue during a press briefing at the Ministry of Finance Headquarters yesterday in Uyo, the state Commissioner for Finance, Mr. Akan Okon stated that the restructuring platform was a palliative mechanism created by the federal government to ease the financial pressure on states in the course of servicing their bank loans.

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