I am not saying that elders are lying but somebody elderly is being economical with the truth all because of politics.
No rector paid off the N2b Abia Poly debt to First Bank. Anyone making such bogus grandiose claim is assaulting our sensibilities and sense of history.
The truth of the matter is that Abia State Government, not Abia State Polytechnic management, took over and paid off the debt. Even the state government said so in one of her official statements concerning the finances and management of Abia State Polytechnic.
Anyone who thinks or says otherwise should contradict me with evidential facts.
I can also remember that the previous government did not observe due process in taking the loan. Mr. Chidi Ajaegbu, at the instance of the state government, took up the issue of the loan with the CEO of First Bank citing procedural errors.
The management of the bank acknowledged this and even became jittery to the point of offering to negotiate out part of the principle sum instead of the whole money.
Before Mr. Chidi Ajaegbu could know what was happening, the state government made a cataclysmic volte-face and betrayed him by taking over the debt and paying same. This nearly cost Mr. Chidi Ajaegbu his reputation and relationship with certain prominent figures in finance and capital world.
It was this particular incident that made Mr. Chidi Ajaegbu to severe ties with Abia State and the drivers of the system. Don’t forget that he was before this incident a member of the board of the school even as he was lecturing in the accounting department of the school pro bono.
For the records, the main campaigner and chief financier of the PDP governorship candidate is the one and same person who, as the chairman of Abia Poly board, took the controversial N2b loan and squandered the same money.
I stand to be contradicted.
