Text of a Press Statement Issued by Hon. Yusuf Maitama Tuggar – 22 September, 2014
INTRODUCTION:
It is no longer news that Bauchi State Government, BASG has applied to the Securities and Exchange Commission, SEC for approval to enable her raise a whooping N15 billion bond from the capital market. The problem is not in the bond itself but, what it is purportedly intended for. On 15 September, 2014, Thisday newspaper reported that; “In specific terms, Bauchi State will use N5.848 billion for the completion of the international airport; N2.030 billion for the completion of the specialist hospital; and N6.338 billion for the refinancing of bank loans. About N1.148 billion is the cost of the issue”.