Panic as Borno Governor Threatens To  Prosecute Loan Defaulters 

By Gbenga Akingbule

Borno State  Governor , Prof. Bababaga Umara Zulum has on Wednesday threathened to prosecute all those who obtained loans through the government coffers and fail to payback  .

Some top shots in the state had benefited from a 2N Billion Micro Finance Bank loans from the past administration of Governor Kashim Shettima  while others  secured the Central Bank Of Nigeria (CBN) Anchor Borrowers’ Programmes Loans- unfortunately most beneficiaries are yet to payback.

Zulum insisted that all  defaulters must be brought to book so as to serve as deterrent to others.

The governor handed down the threat at the Government House, Maiduguri when the Borno State  Branch  Controller of the  CBN (CBN)  Mallam Lawan Tijjani paid the governor a courtesy visit .

Governor Zulum who was visibly unhappy about the development  wondered why some citizens of the state will obtain loans and refuse to payback noting that such attitude will not be tolerated under his administration.

“We shall punish all those people who refuse to payback the money .  The insurgency is well known to us , but where there are genuine reasons why some could not payback the loans , we shall seat down and plan for repayment.

“But I hope, quite a number of people just thought the money was a gift to them , those people shall be brought to book and be prosecuted.

“The issue is that , there’s a lot of impunity in the system and for us to move forward , we must have to remove such impunity.

“We shall recall the file of the Micro Finance Bank , reorganise the structure without fear or favour and ensure that deserving people are appointed into the Board to manage the micro finance Bank. This will be done immediately. ” Governor Zulum said .

Earlier,  the Head of the Project Monitoring Unit of Nigeria Incentive – Based Risk Sharing System for Agricultural Lending (NIRSAL) in Borno State Mohammed Baba Mallam  revealed that 1,763  farmers in three local government areas were supported with the sum of  N386, 528, 200 Million  for the production of  Rice , Soya Beans and Maize .

Governor of Borno State, Babagana  Zulum

Mallam who said NIRSAL is targeting about 3000 farmers to benefit from the loans support however appealed to the state governor to ensure beneficiaries payback their loans .

“The state government should ensure that people payback their loans. If you collect loans and don’t pay , you re stopping others from accessing the loans and thereby erroding the system  ”  Mallam submitted.

Already, the defaulters , some of which were given N 200 Million,  N50 million and even as low as N 20, 000 are distributed over the governor’s threat

“You know this our new governor is a no – nonsense Man ; whenever he issues a threat,  he tries to carry it out , honestly,  I don’t how some of the defaulters that I know will pay back their loans – they may be on their way to jail  if the governor carries out his threat ” a source who preferred anonymity said .

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