Sokoto assembly approves N2bn motorcycle loan for civil servants

  Sokoto State House of Assembly on Thursday approved N2 billion  loan purchase of 10,000 motorcycles civil servants in state.

The approval  followed a letter sent  to the assembly by the state government requesting the granting of the loan.

Explaining the rationale behind the loan, Alhaji Bello Ambarura,  Caucus Leader in the assembly said it aimed at enabling the state government through the  State of Nigerian Labour Congress (NLC), to secure facility the purchase of the motorcycles

Ambarura said “In the light of this development, the State of  Nigerian Labour Congress (NLC) approaches Zenith Bank Plc for the financing of the supply.

“Following due consultation based on mutual understanding,  agreement was reached between the bank and NLC for the release of N2 billion to procure 10,000 DAYLONG CG brand of motorcycles.

“This is to be distributed to the state civil servants at the cost of N260,000 per at an interest rate of 14 per cent.

” The period is 24 months and payment would be deducted  from the beneficiaries’ salaries.

Deputy Speaker of the assembly, Alhaji Abubakar Magaji,  who presided over the plenary put the motion into a voice vote, where it was unanimously adopted. ()