According to information from the office of the Benue Finance Commissioner, the grant which was initiated by the Central Bank of Nigeria ( CBN), to the tune of Two Billion Naira, was supposed to be shared amongst Micro finance Banks under the SME support scheme.
The grant which was intended to be shared between two micro finance Banks namely Jamis MFB and Excellence MFB which Hon. Tsegba has majority shares. The state government under the agreement, was supposed to provide collateral for the loan meant to be disbursed to farmers and Small business owners.
After reaching all the requirements for the loan as stipulated by the CBN, the various banks advertised these loans and have received various sums as processing fee for the loan from intending borrowers.
This process which has already run into four months, it was gathered that is delayed because although the money has been disbursed from the CBN, the state governor and his ally Mr. OmOmadachi Oklobia have demanded cuts from the sum.
Dr. Suswam is said to have taken as according to him, on behalf of the government One Billion Naira as it's share while Mr. Oklobia is believed to have carted away 100 million which he claims is transaction fee and percentage acrueable to the ministry for service rendered, leaving the balance of 900,000.00 to be shared by the two MFBs.
This scenario is the reason for the current feud between Tsegba and his erstwhile friend, Suswam whom Tsegba has threatened to drag to the Economic Financial Crimes Commission ( EFCC ), after May 29 if the whole sum is not released to the various financial institutions as promised.
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