Governor Abdulfatah Ahmed of Kwara state has opened up on the blacklist of the government by the Central Bank of Nigeria, just as he described the action as unfair.

The governor who spoke on the state transaction with the apex bank while featuring on a programme tagged "Governor Explains" during the weekend told newsmen that the debt attributed to the state government arose from a "margin loan" it took from  a commercial bank to purchase the stocks of the bank when the capital market was still bullish.

He said the shares were used as security by the  bank, which also had the responsibility to manage the transaction.

According to him, "Unfortunately, the bank managing the shares held on to it and slept off, and could not sell the shares when they were supposed to be sold. So, the shares thereby crystallized.

"The Asset Management Corporation of Nigeria(AMCON) f, which took over toxic loans of banks now contacted us and we were yet to clarify the amount involved and what had to be done when the apex bank rushed to publish the state's name".

The governor therefore emphasized that the action was not fair, arguing that the state government has never reneged on any payment schedule.

Governor Ahmed also spoke of his government's efforts to provide succour to flood victims in the state, adding that the government is working round the clock to relocate those living along river bank in the upland.

He also called on the Federal government through the National Emergency Management Agency (NEMA) to come to the aid of the state government in relocating the victims in the upland.

Governor Ahmed attributed challenges facing local government areas recently in paying salaries of their workers to shortfalls in the federal allocation due to them.

He told newsmen that the state government had mapped out strategies in assisting them surmount the problem.