How Reps shared N10bn loan —Bankole

According to the former speaker, the House took the loan following a decision by all lawmakers to increase their quarterly allowances (running costs).

He said that the decision to take the loan was reached at a closed-door meeting held on March 30, 2010.

“The report was approved by the House in executive Session of March 30 2010”, the statement added.

Bankole claimed that contrary to insinuations that he and Nafada benefited from the loan, only other principal officers and members shared the money.

He insisted that before the increment in quarterly allocation, which necessitated the taking of the loan, he received N100m per quarter while Nafada collected N80m.

Bankole added that after the increment, the two presiding officers continued to receive the old rate.

However, he revealed that from N46m, Akogun’s allowance was jacked up to N60m, a difference of N14m.

Agaie now took home N57m, up from N43m, a difference of N14m.

Similarly, he said that Ihedioha’s was raised to N55m from N41m, with a difference of N14m, while Waziri-Tambuwal got N54.5m as against the old rate of N40.5m.

Gbajabiamila, who was receiving N36m per quarter, had his own jacked up to N50m.

The former speaker stated that other members, who hitherto received N28m each per quarter, raised theirs to N42m each.

By this new sharing formula, the six former principal officers were said to be sharing N456.5m every three months since March 30, 2010.

The document explains further, “Before the increment, quarterly allowance to the Office of the Speaker was N100m while his deputy received N80m.
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