Ebonyi State under Governor Francis Nwifuru obtained a N20 billion loan in the first quarter of 2026, but PREMIUM TIMES found no public record of legislative approval or compliance with key provisions of the state’s Fiscal Responsibility Law.
Governor Francis Nwifuru’s administration in Ebonyi State obtained a N20 billion domestic loan in the first quarter of 2026, despite the absence of any publicly available record showing that the borrowing received approval from the Ebonyi State House of Assembly as required under the state’s Fiscal Responsibility Law.
The report showed that the state secured N20 billion under “Domestic Loans/Borrowings from Financial Institutions” between January and March 2026.
The amount represents 10.7 per cent of the N186.9 billion domestic borrowing approved in the state’s 2026 budget for the full fiscal year.
However, checks by PREMIUM TIMES found no publicly available record indicating that Mr Nwifuru sought or obtained legislative approval for the loan during the period under review.
Under Section 38(1)(a) of the Ebonyi State Fiscal Responsibility Law, “The State and Local Government shall only borrow for capital expenditure and human development, provided that such borrowing shall be on concessional terms with low interest rate and with a reasonably long amortisation period subject to the approval of the appropriate legislative body.”
Section 38(2) further states that “non-compliance with the provisions of this section shall make the action taken unlawful.”
The law also prescribes additional conditions for borrowing.
Section 39(1) provides that “The State government or its agencies and corporations and any Local Government desirous of borrowing, shall specify the purpose for which the borrowing is intended and present a cost-benefit analysis, detailing the economic and social benefits of the purpose to which the intended borrowing is to be applied.”
Section 39(2) states that borrowing shall comply with conditions including “the existence of prior authorisation in the Appropriation Law for the purpose for which the borrowing is to be utilised” and that “the proceeds of such borrowing shall solely be applied towards long-term capital expenditures.”
PREMIUM TIMES reviewed media reports and official communication channels of the Ebonyi State Government and found no notice of any loan request or approval during the first quarter of the year.
The newspaper checked the official Ebonyi State Government website, the Facebook page of the Ebonyi State Ministry of Information, the verified Facebook page of the Governor, and the Facebook page of the Press Secretary to the Speaker of the Ebonyi State House of Assembly, Ifeanyi Igwe, where legislative activities are frequently publicised.
None of the platforms contained any information relating to any request by the Ebonyi State Governor to borrow N20 billion or any legislative approval for such borrowing.
PREMIUM TIMES also contacted journalists covering the Ebonyi State House of Assembly to ascertain whether any request for the loan was read at plenary, debated, or approved between January and March.
The correspondents said they were unaware of any such request or approval during the period.
When contacted, the Ebonyi State Commissioner for Information, Ikeuwa Omebe, said he was unaware that any loan had been requested or approved.
Mr Omebe asked PREMIUM TIMES to forward the Budget Performance Report showing that the state obtained a loan within the period so that he could provide an informed response.
The newspaper subsequently sent the document to him alongside a formal media enquiry.
In the enquiry, PREMIUM TIMES asked whether Governor Nwifuru sought and obtained approval from the Ebonyi State House of Assembly for the N20 billion borrowing and when such approval was granted.
The newspaper also requested details of the projects or programmes for which the loan was obtained, the financial institutions involved, the interest and repayment terms, and whether a cost-benefit analysis was conducted as required under Section 39 of the Fiscal Responsibility Law.
Mr Omebe did not respond to the enquiry as of the time of filing the report.
The Speaker of the Ebonyi State House of Assembly, Moses Odunwa, declined to comment when contacted by PREMIUM TIMES.
“I can’t respond to that,” Mr Odunwa said and ended the call abruptly when our reporter asked whether the assembly approved the borrowing.
The Chairman of the House Committee on Appropriation and Finance, Kingsley Ikoro, also did not respond to calls and a media enquiry from PREMIUM TIMES.
In the enquiry, PREMIUM TIMES asked whether the assembly approved the N20 billion borrowing and whether the Committee on Appropriation and Finance reviewed or recommended the request before any approval.
The newspaper also asked whether the borrowing complied with Sections 38 and 39 of the Fiscal Responsibility Law, particularly the provisions relating to concessional terms, capital expenditure, and cost-benefit analysis requirements.
PREMIUM TIMES further requested to know whether the assembly would make public any approval documents and supporting analyses connected to the borrowing.
The enquiry also sought clarification on what constitutional or legislative steps the assembly would take if it discovered that the borrowing process violated the Fiscal Responsibility Law or bypassed legislative approval requirements.
Mr Ikoro did not respond as of the time of filing this report.
PREMIUM TIMES has reported trends where governors ignore legislative approvals in public transactions. The paper reported how Imo State under Governor Hope Uzodinma spent N101.5 billion in unapproved funds and how Governor Monday Okpebholo of Edo State spent N14.15 billion in 2025 outside legislative approval.
