Press Release: Kwara PDP rejects loan facility for Kwara Express.

Date: 2014-04-10

Once again, the usual dubious attitudes of the Harmony Holdings Limited has come to our notice as it propose to collect a whooping sum of N 150 million loan facility in the name of Kwara State Transport Corporation.

This is coming at a wrong time because as we are all aware, Kwara Express is one of the leading and viable Corporation yielding large turnover and meeting with the demands of a standard transport service and generating revenue for the state government.

However, there is no justification for the facility sought for by Harmony Holdings Limited but a tip of intelligence has reliably revealed to us that this decision is part of efforts at grounding Kwara Express which will eventually incapacitate it and facilitate the need to rest the Corporation for the emergence of "Harmony Express".

While we anxiously await response from the Mr. Tope Daramola-led leadership of the Harmony Holdings Limited on how over N 540 million revenue generated by Kwara Express between 2012 to date was squandered, we strongly warn them not to obtain the loan and urge the general public to reject it in its entirety.

It was discovered that the loan is nothing but an attempt to make Kwara Express highly indebted and insolvent necessitating its ability to continue to exist as a Corporation. Our question to them is that; where is the entitlements of the individuals that partner with the Corporation in the tune of over N 17 million and that of the Urban Development Bank of Nigeria, (UDBN) in the last three months which totals N 10.5 million?

Since the Kwara State Government claimed the ownership of the Harmony Holdings Limited and has also sought for its usual sum of N 30 billion bond, why can't the needs of Kwara Express if at all any, reflect in the budgetary allocation under the Works and Transport Ministry?

Hon. Solomon Edojah
Chairman, Caretaker Committee, Kwara PDP

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Timothy Akangbe     Issa Manzuma     Simeon Sayomi     Saka Keji     Aishat Sulu-Gambari     Voices Of Tomorrow     Abatemi-Usman     Gobirawa     Femi Ogunsola     Tope Daramola     AbdulHakeem Ajibola Akanbi     Ghali Alaaya     Budo-Egba     Bashirat Bola Bello     Tunji Folami     Raji AbdulRasaq     Ogidi-Oloje     Read With Me     Summit University     Abdulrahman Abdulrazaq     Bursary     Suleiman Idris     Kwara State Fire Service     Bukola Ajikobi     Muhammad Sirajo Aliyu     Ibrahim Abduquadri Abikan     Makama Of Kaiama     Neuropsychiatric Hospital     Salman Jawondo     Freshvine Nigeria Limited     Offa Descendants Union     Usman Yunusa     Presidential Election     Ilorin East/South Federal Constituency     Ike Ekweremadu     NULGE     National Association Of Nigerian Students     GANZY     Odo-Owa     Alloy Chukwuemeka     Titus Suberu-Ajibola     Maigidasanma     Ilorin Water Reticulation     Maigida     Ibrahim Akaje     Barakat Community Secondary School     Bamidele Adegoke Oladimeji     Omu-aran     LEAH Charity Foundation     Omotoso Musa     Abdulquawiy Olododo     Alfa Modibbo Belgore     General Hospital, Offa     Yaru     Adewuyi Funmilayo     Kunle Suleiman     Teachers Specific Allowance     Segun Ogunsola     Oke-opin     Baakini     Kupchi Hosea Maxwell     Ojo Fadumila     Nagode     Democracy Day     Code Of Conduct Tribunal     Medinat Folorunsho Salman     Olatunji Bamgbola     Alabe     Hamidu Olowo     Senate Presidency     Elerin Of Adanla Irese     Binta Abubakar-Mora     Biliaminu Aliu     Aliyu Muhammed     Okoolowo     Moji Makanjuola     Suleiman Alege Kuranga    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Joseph Yemi Ajayi     Salary     Special Agro-Industrial Hub     Eruku     Tunji Oyawoye     Umar Sanda Yusuf     Hussein Olokooba     Ishaq Salman     Sambo Murtala     Government High School (GHS), Adeta     Oloyede     Kwara State Council Of Chiefs     Sarafadeen Kayode Akorede     Yusuf Badmus     Hausa     Christopher Odetunde     Abubakar Baba Sulaiman     AbdulQowiy Olododo     Gbenga Adebayo     Busari Toyin Isiaka     Emmanuel Bello     Ekiti     Taiwo Joseph     Tosho Yaqub     Oloruntoyosi Thomas     Mohammed Haruna     Buhari     Hydroelectric Power Producing Areas Development Commission     Wahab Abayawo     Tuesday Assayomo     Tafida     Peculiar Allowance     Yashikira     Otoge     Share-Tsaragi     Vasolar-Kwara Company Ltd     Saeedat Aliyu     Abdulkadir Akanbi-Oke     Joana Nnazua Kolo     Saadatu Modibbo-Kawu     Ayinde Oyepitan     Kwara Apc     Ibrahim Oloriegbe     Ilorin West     Leke Ogungbe     Mohammed Khadijat Kubura     Toyin Olayinka Tejidini     All Peoples Party     Abdullateef Abdussalam     Sanusi Abubakar     Gabriel Fashanu     Kwara University Of Education     John Olobayo     Yusuf Aiyedun     Yusuf Amuda Aluko     Sodiya     Share/Tsaragi     Elerinjare     Baba Isale     General Tunde Idiagbon International Airport     Amos Bajeh     Sunday Popo-Ola     Jawondo     Undergraduate Bursary     Is\'haq Modibbo Kawu     TESCOM 2025     Azeez Salawu     Babajide Ajayi     Ghali Alaaya     Umar Bayo Abdulwahab     Daud Adeshola     Ibraheem Abdullateef     Adamu B. Yaqubu     Yoonus Lawal     Jide Oyinloye     Ahmed Saidu Rufai     Roseline Oni Aremu