Group under the auspices of Concerned Nigerians has urged the Economic and Financial Crimes Commission (EFCC) to immediately launch investigation into a recent N150 billion loan approved by the state House of Assembly.

Convener of the group, Deji Adeyanju, in a petition on Friday, addressed to the Chairman of the anti-graft agency, described the loan as a last minute looting by the state government to fund elections.

Lamenting, Adeyanju said it has become a practice for state governments to obtain huge loans under the guise of public interest but subsequently divert it into private pockets.

Statement by the group reads: “We write this petition in our capacity as a pro-human rights and anti-corruption group, seeking the urgent investigation of the Delta State Government, over its attempt to loot the N150 billion loan recently approved by the Delta State House of Assembly.

“At a time when the nation is engrossed with the commencement of electioneering process leading to the 2023 election, it is alarming to note that the Delta State government has initiated and secured the approval of the House of Assembly to obtain a humongous loan of N150 billion.

“Curiously, this loan has been approved just few weeks to the primaries of the Peoples Democratic Party (PDP), where Governor Ifeanyi Okowa is rumoured to have a vice presidential ambition. We are, therefore, constrained to ask: What is the purpose of this loan?

“In recent times, it has become a practice for state governments to obtain huge loans under the guise of public interest but subsequently divert same into private pockets. We recall that just few months ago, the Kogi State government obtained a similar loan with a view to paying workers’ pension/salary but subsequently diverted it into a private account. It took the intervention of your Commission before the money could be returned to the Central Bank of Nigeria.

“It is on the basis of the foregoing that we believe that the N150 billion loan sought to be obtained by the Delta State government is an attempt at last minute looting. Sadly, the House of Assembly who should ordinarily investigate this loan and protect the citizens is in bed with the executive arm and has turned a blind spot.

“We, therefore, call on you to investigate this loan, trace the money and ensure that same is not channeled towards any purpose other than people’s-oriented projects.”