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Investment Bank offers IMSG N100b Project Funding Support

Recent drive for both local and foreign investors by the Imo State Governor, Hon Emeka Ihedioha has started yielding fruits as a Nigerian Investment Bank, FSL Securities Limited has offered to assist Imo State Government in raising about N100bn for infrastructural development in the State.

This was revealed by the firm at a meeting with the Deputy Governor of the State, Engr. Gerald Irona at the Government House, Owerri on Tuesday.

In his presentation, Group Managing Director of the organization, Chris Okenwa described the present administration in the state as “showing positive signs of good and responsible governance, hence the offer.

“We feel that the new administration wants to leave a legacy of good governance for the good people of Imo State. FSL is desirous of working with the present Imo State government to realize their dream of infrastructural revolution in the state. FSL is committed to assisting the state government with funding in this regard. We are here to provide alternative sources of funding for the state, other than the Federal allocation.”

Responding, Deputy Governor of Imo State, Engr. Gerald Irona reiterated the commitment of the Chief Emeka Ihedioha-led administration to entrenching good governance in the state, assuring them of government’s readiness to create an enabling environment for investment in the state.

He commended FSL for the offer, promising that the State Government will partner the group for a mutually beneficial relationship.

“We need some level of funding intervention. We inherited a state with high level of infrastructural decay. We are glad that you are here to provide alternative sources of funding, other than the statutory federal allocation. I assure you that the government of Imo State shall sit down with you to discuss this further. We shall partner with you.”

Though no mention was made on repayment terms and condition, Business Hilights South East Bureau chief reports that high point of the event was a brief technical meeting with the Imo State Commissioner for Finance, Mr. Uche Joe Uwaleke, Professor of Capital Market.