"There are indications that there is looming danger of bankruptcy in states. There is a high rate of corruption and corrupt practices through misappropriation and misapplication of public funds and abuse of immunity clause by some state governors.
"Much of the revenue accruing to the states and their local governments ends up being misappropriated".
Senator Barnabas Gemade said this while presenting the report of a Ad-hoc Committee that evaluated the financial health of state.
Adopting the report which is aimed at checkmating the looming danger of bankruptcy in many states, newsmen gathered that the Senate condemned what was described as the financial recklessness of many of the governors. The legislators said many states are going bankrupt because most of the governors are corrupt.
Observing that governors' huge recurrent expenditures were leaving little or nothing for the developmental needs of the states, the Senate called for the reduction in the number of governors' aides as well as the harmonisation of the activities of state-owned institutions.
