x

Oyetola took N18bn Loan After Losing Election, Left N407.32bn Debt  – Adeleke

The Governor of Osun State, Ademola Adeleke, has disclosed that his predecessor, Gboyega Oyetola, took N18 billion loan after he lost the July 16th, 2022 Osun governorship election.

This is as he also revealed that the state is indebted to the tune of N407.32 billion as of November 30th, 2022.

Adeleke said his predecessor, Gboyega Oyetola took a N18.04 Billion FGN Bridge Finance Facility loan after the July 16th, 2022 election which Oyetola lost and that there is no information on the repayment terms.

The governor made this revelation in an address he delivered at a meeting with the Osun State Traditional Rulers in Osogbo On Thursday. He said the amount owed contractors is yet to be determined.

Adeleke said his administration inherited eight outstanding loan facilities from Oyetola, apart from salaries and pension debts.

According to him, the repayment period ranges from 16 months to about 28 years.

Some of the loans listed include Budget Support Facility, Salary Bail Out Loan, Restructured Commercial Bank Loans, Excess Crude Account (ECA) Loan, CBN Infrastructure Loan, FGN Intervention Loan, FGN Bridge Finance Facility and Foreign Loans.

Stating that the only fund in government coffers as at Monday 29th November was for November 2022 Salary, the governor insisted that he would ask questions and demand answers on how the funds were expended.

He said that Governor Oyetola must also explain why Osun state owes salaries & pension to the tune of N76 Billion after collecting a N50 Billion Salary Bail Out Loan from the Federal Government.

Governor Adeleke also said that creditors, especially the Commercial Banks must explain why various loans were given to an administration beyond its 4 year tenure.

Hot this week

Gov. Ododo Launches Rural Electrification Project for 30 Kogi Communities

By Noah Ocheni, LokojaKogi State Governor, Alhaji Ahmed Usman...

Chinese firms invested $1.3 billion in Nigeria’s lithium sector: Alake

The Minister of Solid Minerals Development, Dr Dele Alake,...

DSS Nabs 3 Gunrunners Supplying Arms to Bandits in Kaduna

The Department of State Services (DSS) has arrested three...

BREAKING:** Nnamdi Kanu’s Lawyers Quit Terrorism Case

Lead counsel and former Attorney-General of the Federation, Kanu...

INSPIRATION: When Sleep Escapes the Soul

With Mary EwaIf God did not create sleep for...

FOCAC: A Quarter Century of China-Africa Cooperation

By Dr Austin MahoThe Forum on China-Africa Cooperation (FOCAC)...

Wike Arrives Dubai for 2025 Asia Pacific Cities Summit and Mayors’ Forum Meetings

By Joyce Remi-BabayejuThe Federal Capital Territory (FCT) Minister,...

Chinese firms invested $1.3 billion in Nigeria’s lithium sector: Alake

The Minister of Solid Minerals Development, Dr Dele Alake,...

Related Articles

Popular Categories

spot_imgspot_img