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Oyetola Left Behind Over N40b Debts – Adeleke

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Oyetola Left Behind Over N40b Debts - Adeleke

Gboyega Oyetola took N18 billion loan after he lost the July 16th, 2022 Osun governorship election, the state Governor Ademola Adeleke has disclosed.

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

Adeleke disclosed this on Thursday during a meeting with Osun State Traditional Rulers at Osogbo, Osun State Capital.

He said that his administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from Governor Oyetola’s administration.

Adeleke explained that the repayment period for the loan facilities ranges from 16 months to about 28 years.

“My good people of Osun state, the total loan stock as of today is N331.32 Billion.

“If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors is yet to be determined.

“The only fund in government coffers, as of Monday 29th November, was for November 2022 Salary. Otherwise, the state treasury was empty.

“As your governor, I will ask questions on your behalf. And will demand answers,” Adeleke told the traditional rulers.

He added, “Governor Oyetola must explain how the N331 Billion borrowed in the name of Osun State was expended, with no obvious infrastructural development to justify this huge debt.

“Governor Oyetola must explain how the N18 Billion Bridge Loan taken after he lost the election on July 16, 2022, was expended.

“Governor Oyetola must also explain why Osun state is owing salaries and pension to the tune of N76 Billion after collecting a N50 Billion Salary Bailout Loan from the Federal Government

“The creditors, especially the commercial banks must explain why various loans were given to an administration beyond its 4-year tenure. 28 years is equivalent to the tenure of at least four governors. A child that is born today would have earned a Ph.D. at 28 years of age. This is nothing but mortgaging the future of Osun State with nothing to show for it. This is definitely not acceptable.”

READ ALSO: Adeleke, Oyetola Win In Polling Units

See the breakdown of the debt by Adeleke below:

1. Budget Support Facility:
• Outstanding Balance: N51.8 Billion
• Monthly repayment: N154.9m
• Repayable Period Outstanding:
335 months = 27 years 9 months

2. Salary Bailout Loan:
• Outstanding Balance: N38.8 Billion
• Monthly Repayment: N232.77m
• Repayable Period Outstanding:
167 Months = 13 years 9months
3. Restructured Commercial Bank Loans:
• Outstanding Balance: N158.77 Billion
• Monthly Repayment: N1.14 Billion
• Repayable Period Outstanding:
139 Months = 11years 6 months.
4. Excess Crude Account (ECA) Loan:
• Outstanding Balance: N14.48 Billion
• Monthly Repayment: N89.97m

• Repayable Period Outstanding:
161 Months = 13 years 4 months
5.CBN Infrastructure Loan:
• Outstanding Balance: N9.2 Billion
• Monthly Repayment: N44.98m
• Repayable Period Outstanding:
205 months = 17 years 1 month
6. FGN Intervention Loan:
• Outstanding Balance:
N1.7Billion
• Monthly Repayment:
N100m

 

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Security Operatives Crack Down On Sagamu Cultists, House of Assembly Member, Six Others In DSS Net

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Acting IGP Kayode Egbetokun

Security operatives in Ogun State on Wednesday tracked six suspected cultists, allegedly involved in the violence that erupted in Sagamu at the weekend to the official residence of a member of the state House of Assembly.

The member, representing Sagamu State Constituency (1), Hon. Damilare Bello Mohammed, was alleged to have provided shelter to the fleeing cultists.

A team of security operatives, in a sting operation after a tip-off, arrested the suspects on the premises of the lawmaker.

Those arrested, according to sources, include Damilare Bello Mohammed aka DRE, Debbo Animashaun, Bamidele Saheed, Ismaila Onitire, Adewale Otesanya and Tobi Owoade.

They are currently undergoing interrogation at the Department of State Service (DSS).

Sources revealed that many dangerous weapons, including guns, were recovered from the suspects.

It would be recalled that Hon. Bello was arrested by the DSS for masterminding the violent protest that took place in February this year in Sagamu over the naira redesign policy by the Central Bank of Nigeria (CBN).

During the protest, irate youths vandalised about 10 banks and other public infrastructures.

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Ogun Considers Special Court To Try Cultists

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Ogun State Governor Dapo Abiodun

A Special Court is to be established by the Ogun State Government to try cult-related cases.

Also to be set up is a Joint Anti-Cultism Security Task Force comprising all major security outfits, with the mandate to rid the state of the menace of cultism.

The state is also proposing an amnesty programme for would-be cultists who may wish to surrender their weapons.

These decisions were arrived at after a joint security meeting, held at the Governor’s Office, Oke-Mosan, Abeokuta, Ogun State on Wednesday.

It would be recalled that Governor Dapo Abiodun on Tuesday hinted that his administration would enact a law that would pronounce the death penalty on anyone caught engaging in cult activities in the state.

The governor spoke during a visit to the palace of the Akarigbo of Remoland, Oba Babatunde Ajayi, following days of cult-related clashes in Sagamu, which left many dead and others injured.

The meeting, according to Governor Abiodun, focused on providing adequate measures to eradicate cultism in the Gateway State.

Prince Abiodun said: “During the Joint Security meeting that took place today (Wednesday), we engaged in fruitful discussions regarding the implementation of measures aimed at combating cultism in Ogun State.

“Our primary focus was on establishing a special court, forming a joint operational force comprising various security agencies, and implementing a death penalty for cultism offences.

“In addition to these measures, we also deliberated on the possibility of introducing a period of amnesty. This would allow individuals who wish to surrender their weapons and renounce their affiliation with any cult-related groups and activities the opportunity to do so without fear of prosecution.

“As an administration deeply committed to fostering a peaceful and violence-free society, we are dedicated to providing the Special Court and Joint Anti-Cultism Security Task Force with the necessary logistics and tools to support their operations effectively.

“The overall objective of our conversation is to address the issue of cultism through a multifaceted approach. This will include legal and enforcement measures, rehabilitation efforts, and community engagement through our respected traditional leaders.

“In conclusion, we are determined to tackle the menace of cultism in our state head-on. By employing a combination of legal frameworks, law enforcement strategies, rehabilitation initiatives, and community involvement, we believe we can bring about lasting change.”

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Why We Sacked NNPP’s Abba Kabir As Kano Governor – Tribunal

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Kano State GovernorAbba Kabir

The Kano Governorship Election Petition Tribunal on Wednesday sacked Governor Abba Kabir Yusuf of the New Nigeria Peoples Party (NNPP).

The tribunal declared the All Progressives Congress (APC) candidate, Nasiru Gawuna, as the winner of the March 18 election.

Yusuf was declared the winner of the election by the Independent National Electoral Commission (INEC) after the poll in March.

But on Wednesday, the three-man panel, after hearing the petitions, ordered the withdrawal of the certificate of return which INEC presented to Yusuf and directed a certificate of return to be issued to Gawuna.

The court deducted 165,663 votes from Yusuf’s total as invalid votes, stating that the affected ballot papers were not stamped or signed and therefore declared invalid.

The ruling comes about six months after the APC candidate conceded defeat to Yusuf in the wake of INEC’s presentation of the certificate of return to the NNPP candidate.

In a two-minute audio statement on March 29, Gawuna stated that “as a good Muslim”, he was compelled to accept the outcome of the election, whether in his favour or not.

He added that although his campaign team had requested a review of the election results by INEC, upon review, the commission had found Yusuf to be the winner of the election.

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