The loan request was approved by General Assembly on the request of the Financial Secretary of the SRC on Friday 11th November, 2016.

According to a statement signed by the convener of the group Salia Muawuih, the loan facility approved by G.A is not in the interest of the student body

“This decision, we believe, is not in the best interest of students. This is because there are no assurances on how and when the loan would be paid. There is also very little information about the interest rate, collateral and other important factors that go into securing a loan.”

He further added “In order to prevent the Executive Committee from going ahead with this ill-conceived agreement, we urge the entire student body to make their voices heard by endorsing a 1,000-signature petition calling on the Executive Committee to cease its intentions forthwith.”

Below is the press statement:

PETITION TO THE EXECUTIVE COMMITTEE OF THE GIJ-SRC AGAINST SECURING OF GHC35,000 LOAN IN THE NAME OF STUDENTS

The Movement for Accountability on Campus (MOFAC) has learnt, with grief, the clandestine move by the Executive Committee of the SRC to secure a Ghc35, 000 commercial loan to pre-finance the organisation of next year’s Face of GIJ pageant.

This decision, we believe, is not in the best interest of students. This is because there are no assurances on how and when the loan would be paid. There is also very little information about the interest rate, collateral and other important factors that go into securing a loan.

It is our belief that failure to pay this loan would mean that subsequent SRC administrations would be saddled with debts. This will have crippling consequences on their operations.

In order to prevent the Executive Committee from going ahead with this ill-conceived agreement, we urge the entire student body to make their voices heard by endorsing a 1,000-signatories petition calling on the Executive Committee to cease its intentions forthwith.

This is the time when the Student Body needs to make its voice heard in decision making. We must not sit aloof and watch things go wrong.

Why should a handful of students impose a decision on us when most of us are against it?

Please contact the Convener of MOFAC on 0200754448 to endorse the petition from today.

Signed

Salia Muawiah

Convener, MOFAC