The Delta State House of Assembly has granted a request from Governor Sheriff Oborevwori for a credit facility of N40 billion from Zenith Bank Plc to settle the backlog of pensions owed retired primary school teachers and local government employees in the state.
In a request letter to the House, the governor explained that the credit facility was aimed at assisting the 25 councils in the state to defray a substantial part of accrued rights of local government pensioners.
The letter read during the House plenary by the Speaker, Emomotimi Guwor, said the approval was part of the conditions for accessing the facility.
The Governor disclosed that at a meeting held in his office with council chairmen and other stakeholders, it was resolved that a credit facility be sourced from a commercial bank to settle the retirees’ payments.
According to Oborevwor, Zenith Bank had availed the 25 councils of the said facility in a prorated manner, in tune with their respective indebtedness to pensioners for which offer letters had been served to all the chairmen by the bank.
House Majority Leader, Emeka Nwaobi, stressed the need for the credit facility, noting that payment of backlogs owed the council pensioners would put smiles on the faces of many homes in the state.
