The Kogi state government has begun to draw down its N20bn bond facilitated by a consortium of banks in the country.

The Kogi state government has  begun to draw down  its N20bn   bond  facilitated by a consortium of banks in the country.
Governor Idris Wada, who stated this while receiving an award from the   Correspondent chapel of the Nigerian Union of Journalists, NUJ, Kogi state branch, explained  the loan was tied to some  projects  to be undertaken by the state government in the 2014 fiscal year.
He stated that the banks would be releasing the loan in 4 tranches of N5 billion each depending on the progress of the projects being undertaken, stressing that  the Nigerian Stock Exchange, NSE,  the Central Bank, and the Securities and Exchange  Commission  (SEC), have approved the release of the fund after all feasibility studies and appraisals were conducted.
Details to follow