The Edo State Accountant-General, Mr Julius Anelu, has said that the internal debt profile of the state government as at November 11, 2024 stood at N1 trillion.
He also said that the external debt stood at N282 billion, attributing the increase in the debt profile to depreciation in the value of the naira.
Making the disclosure during a meeting with members of the Edo State Assets Verification Committee, Mr Anelu added that his office had written to all the banks in the state which had transactions with the state government to furnish his office with their statements of accounts to enable him furnish the committee.
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Speaking further, he said through investigations, the committee would discover that most of the loans were channeled directly to the agencies for which they were secured.
He pledged to furnish the committee with all the necessary and vital documents in order to make their task at hand less cumbersome.
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