SENATOR representing Delta North Peter Nwaoboshi yesterday dared the Economic and Financial Crimes Commission (EFCC) to produce document indicating that he took a loan of N1.2 billion from the Nexim Bank.
Nwaoboshi told reporters in Abuja that at no time did he take N1.2 billion loan from the bank.
The Delta North lawmaker insisted that the attempt by the anti-graft agency to paint him black was effort in futility since he did not offend the law.
The EFCC claimed that Nwaoboshi secured a N1.2 billion loan in 2014 under the Local Industrial Growth Scheme, when he was sitting on the Board of Directors of Nexim Bank
It alleged that part of N1.2 billion facility was diverted for other use other than what it was granted for.
It said Nwaoboshi had been invited through the Clerk to the Senate to clear allegations against him but he has not responded.
The senator said any interested party should cross-check the minutes of the board meeting, where the loan facility was approved to see that the board duly excused him from the meeting.
He said the duration of the loan is five years, which meant that completion of repayment would elapse in 2019.
The senator, who said it was on record that Delta State had been repaying the loan, wondered what his offence was.
Nwaoboshi said: “I didn’t take a loan of N1.2 billion. I challenge EFCC to show document that I Peter Nwaoboshi took a loan of N1.2 billion. The company in question has Nigerian and Chinese directors. It is a manufacturing company. They approached Nexim bank to take a loan of N1.2 billion. Because I know some of the directors, I excused myself from participating in the process in accordance with the law. It was the Deputy Governor of CBN who was the chairman of the board.
“The minutes of the board meeting are there. I told the board to excuse me and they did. The company offered a security valued at N3.5 billion as collateral. The records are there.
“The company in question provided documents verified by the bank that they were given a contract of N1.9 billion. The loan was for running cost, purchase of equipment and raw materials. This was verified by the bank. The bank went to Delta State and verified that the contract was given.
“The tenure of the loan was for a period of five years. It means it will expire in 2019. The company domiciled the payment of that contract to Nexim Bank and the Delta State Government has been paying the money into this account in Nexim Bank, including the one they paid just last week.