The party, which described the loan as unconscionable and wicked, alleged that the state government planned to use it for the July 30, 2016, rerun election in the state.
The state APC Chairman, Chief Davies Ikanya, made this known in a statement, on Tuesday.
According to Ikanya, the action is a sign of desperation by the governor ahead of the forthcoming election.
Ikanya said, “The APC is convinced that just like the governor committed Rivers people to a N10bn loan to host and write-off the failed PDP national convention in Port Harcourt last May, he is, this time, borrowing N9bn to prosecute the forthcoming July 30 rerun election in the state as announced by the Independent National Electoral Commission.”
“The governor is obviously frightened by the prospect of his candidates losing in the forthcoming elections, especially in the Rivers South-East axis where his morbid fear for the popularity of Senator Magnus Abe has become unbearable for him.”
Reacting, the state Publicity Secretary of the Peoples Democratic Party, Mr. Samuel Nwanosike, described the claim by the APC as false.