Rivers State Governor, Nyesom Ezenwo Wike, has revealed the reason behind the removal of Joint Account Allocation Committee, JAAC, from banks.
The governor’s directive which was given while swearing in the substantive Chairman of the Asari-Toru Local Government Area at Government House, Port Harcourt, ordered the removal of the accounts from banks that gave unauthorized loans to some local government chairmen in the state.
He also ordered the State Attorney-General and Commissioner for Justice to take legal action against the defaulting banks.
This was contained in a statement on Wednesday by the Rivers State Commissioner for Information and Communications, Pastor Paulinus Nsirim.
Wike said: “We have taken a decision that for all those loans taken without approval, the affected accounts must leave the defaulting banks.
“I have told the Attorney-General and Commissioner for Justice to take necessary steps.
“The banks can’t go and seek a refund from the local governments.
“When you default the Law, you suffer for it.
“Council Chairmen who want to take loans from banks must get official approval.
“You cannot take loans that will mortgage the future of the people.” Daily Post
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