CORRUPTION ALLEGATIONS HIT SOUTHEAST DEVELOPMENT COMMISSION, AS ASITU CALLS FOR PROBE
CORRUPTION ALLEGATIONS HIT SOUTHEAST DEVELOPMENT COMMISSION, AS ASITU CALLS FOR PROBE Source: TBE Magazine. ASSOCIATION OF IGBO TOWN UNIONS (ASITU) PRESS STATEMENT N25B Secret Loan: SEDC Must Not Become Cesspool of Corruption — ASITU Warns — Demands Thorough Investigation, Policy Blueprint The Association of Igbo Town Unions (ASITU), the umbrella body of all town unions across Igbo land, hereby issues this press statement to address the alarming and deeply troubling revelations surrounding the South East Development Commission (SEDC), particularly as it concerns the alleged acquisition of a ₦25 billion loan under questionable terms and circumstances. Over the past 72 hours, multiple media reports have alleged that the Board and Management of the SEDC have surreptitiously secured a loan of ₦25 billion from a commercial bank at an astronomical interest rate of 30%, without the constitutionally required approvals from the Debt Management Office (DMO) and the N...