Delta Assembly Ratifies State Government’s Promissory Note of N22.6Bn With Zenith Bank

…Passes Delta State Private Health Care Bill.

The Delta State House of Assembly has passed a resolution approving the request of the State Governor, Senator Ifeanyi Okowa in support of the State Executive Council’s ratification of Zenith Bank Promissory note discounting facility of  N22,695,597,917.00 issued by the Federal Government to the State.

The  Governor’s request was contained in a letter to the House and  read by the Speaker Rt  Hon. Sheriff Oborevwori who presided over plenary on Tuesday, March 26, 2019.

According to the letter,Governor Okowa said over the years the state government had  reconstructed,rehabilitated and resurfaced several federal roads amounting to the sum of N76,357,226,598.62.

He said efforts were made to recover the expended funds from the Federal Government through the presentation of claims to relevant Senate and House of Representatives Committees and the Federal Government issued a promissory note in the sum of N 22,695,597,917.00 to the Delta state government.

Governor Okowa in the letter said the promissory note which represented Thirty percent of the amount spent on the Federal roads is scheduled to mature in February 2021 adding that there was an urgent need of funds to complete numerous roads projects before the onset of the rainy season.

He said due to the urgent need, it had become expedient to obtain a discount facility of the promissory note from Zenith Bank PLC in order to receive immediate value for the promissory note.

Governor Okowa noted that the State Executive Council at its Third meeting held on March 19, 2019 ratified the Governor’s approval of the Federal Government promissory note discounting facility stressing that by implication the state government had accepted the Zenith Bank offer to discount the promissory note of N22,695,597,917.00  at a discount rate of Eighteen percent and management fee of One point zero percent flat payable upfront.

The Governor said the purpose of the letter was to sort the resolution of the House in support of the discounting of the promissory note N22,695,597,917.00  from Zenith Bank Plc.

Thereafter,the Majority Leader, Hon. Tim Owhefere moved separate motions for the House to receive the Governor’s letter for further consideration and approval .

The motions were seconded by Honourables Festus Okoh and Oboro Preyor and adopted.

Also at plenary, the House passed the Delta State Private Health Care Registration,Operations and Prohibition  Bill, 2017.

The passage of the bill followed a motion moved by the Majority Leader,  Hon.  Tim Owhefere for the House to resolve into a committee of the whole seconded by the Member representing Ukwuani Constituency, Hon.  Alphonsus Ojo and adopted.

At the Committee of the Whole, Hon.  Alphonsus Ojo who is the Chairman House Committee on Health, and other members, proposed various amendments on different clauses of the bill and were adopted.

Reporting progress at the Committee of the Whole,  the   Speaker, Rt. Hon. Sheriff Oborevwori said members painstakingly scrutinised the bill clause by clause and amendments made were necessary.

Thereafter the Majority Leader, Hon. Tim Owhefere moved for the third reading and passage of the bill, seconded by Hon. Reuben Izeze and passed.

The Speaker,  Rt. Hon. Oborevwori thanked members for the passage of the bill saying it would enhance quality healthcare to the people.

The Delta State Private Health Care Registration, Operations and Prohibition Bill is for a law to regulate the Registration, establishment, operations, conduct, monitoring and inspection of private healthcare facilities in the state and for other matters incidental thereto.

The House has adjourned plenary to Tuesday April 2, 2019.