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Delta State House of Assembly has granted a request from Governor Sheriff Oborevwori for a credit facility of N40 billion from Zenith Bank Plc to offset backlog of pensions owed retired primary school teachers and local government employees in the state.
In a request letter to the House, Oborevwori explained that the credit facility was aimed at assisting the 25 councils in the state.
Oborevwori said that at meeting held in his office with council chairmen and other stakeholders, it was resolved that a credit facility be sourced from commercial bank to pay the retirees.
Speaker of the House, Emomotimi Guwor said the approval was part of conditions relevant in accessing the facility.
Meanwhile, House Majority Leader, Emeka Nwaobi, explained the need for the credit facility, noting that payment of backlogs owed the council pensioners would put smiles on the faces of many homes in the state.
