Lawmakers approve Okowa’s request to discount N22.6bn promissory notes from Zenith Bank; passes Delta State’s Private Health Care Bill


The Delta State House of Assembly yesterday, Tuesday, 26/3/2019 approved the request of the Governor ifeanyi Okowa that sought the Assembly’s support of the State Executive Council’s ratification of the Zenith Bank Promissory Note discounting facility of N22,695.597,917 issued to the state by the Federal Government.

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.

Governor Okowa in the letter, explained that 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 N22,695,597, 917.00 to the Delta state government.

Governor Okowa in the letter said the promissory note which represented 30 per cent 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 road projects before the onset of the rainy season .

He said that due to the urgent need it has 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, the EXCO 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 18 per cent and management fee of one point zero per cent flat payable upfront.

The Governor said the purpose of the letter was to seek 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, Rt 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

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

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

At the Committee of the Whole, Hon. Alphonsus Ojo who is the Chairman House 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. 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, which was seconded by Hon. Reuben Izeze and passed.

The Speaker thanked the members for the passage of the bill, saying that it would enhance quality healthcare delivery 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 till Tuesday, April 2,2019.

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