In his lead debate, Melaye pointed out that the state was already indebted to a whopping sum of N40 billion.
The Kogi West lawmaker, who rose under orders 42 and 52, added that the alleged loan under investigation was christened Loan of Debt Refinancing, ostensibly to avoid the state government from approaching the National Assembly for approval.
Melaye said the loan would be used to fund the 2019 Kogi State and Presidential elections.
In his words, “What it means is that the Government is borrowing to pay borrowed money.”
In his contribution, Senator Atayi Idoko said it was unacceptable for the people of the state to accept an illegal borrowing and that is unacceptable for the Senate to allow the alleged borrowing.
Senator Idoko also regretted that there were no capital projects going on in the State besides lingering unpaid salaries by the state.
In reaction, Senate President Bukola Saraki hit the gavel in affirmation of the majority resolution and accordingly assigned the Senate Committee on Local and Foreign Debts to investigate and establish if the loan has been taken.