By Jethro Ibileke
The internal debt profile of the Edo state government as of 11 November 2024, was over ₦1 trillion naira.
The State Accountant Accountant-General, Mr Julius Anelu, disclosed this during a meeting with members of the State Assets Verification Committee, putting the external debts of the state at ₦282 billion.
Anelu who blamed the increase in the debt profile on the depreciation of the value of the naira, added that when the loans were taken, the value of the naira was not as low as it is today.
The Accountant-General informed the committee that his office had written to all the banks in the state that had transactions with the state government to furnish his office with their statements of accounts to enable him to furnish the committee.
He further explained to the committee that most of the loans were channelled directly to the agencies for which they were secured.
He promised to furnish the committee with all the necessary documents to make the job less easy for them.
While explaining the mode and method of contract executions and payments, the Accountant-General informed the committee that most of the payments were made through commercial banks that served as sureties for the contractors and financed their projects.
He also disclosed that the Permanent Secretary, Ministry of Budget and Economic Planning would appear before the committee to explain the budget implementation and performance since 2017.
Anelu assured the committee of his willingness to comply with its demand by making available all relevant documents, including payment vouchers in respect of all transactions carried out by his office.
“As a civil servant, I have no reason to disobey the committee, it is my duty to let the committee know all financial transactions of the state during the period under my purview as the Accountant-General of the state.
“Some of the transactions were also done through the office of the Secretary to the State Government. Though, all payments passed through my office,” he said.