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Osun N407bn debt: Former commissioner clears Oyetola, says debts procured before ex-gov assumed office

A former Commissioner for Finance in Osun State, Mr. Bola Oyebamiji has denied allegations by the state government that the administration of the immediate past governor of the state procured a debt of  N407bn before leaving office.

Oyebamiji in a statement issued on Friday described the allegations by Governor Ademola Adeleke as untrue, claiming that the loans were procured between 2013 and 2017 before the Oyetola came to office.

While also debunking allegations that the Oyetola’s government took a loan after the July 22 gubernatorial elections, Oyebamiji said what the state government benefitted from like other 35 states of the federation was the monthly intervention from the federal government  which commenced in December 2021,and terminated in June 2022.

According to him :”The latest comments of the incumbent governor to the effect that Governor Oyetola accessed a loan facility after the July 2022 gubernatorial election is nothing but a lie. The current government would have won an iota of credibility for itself if the details of the loan, including the figure and the creditor were mentioned. Just to let you know, as captured in the address of Governor Oyetola on the 26th of November, 2022, the Government of Osun did not take any bank loan under his watch. What the state benefited from, like the 35 other states of the Federation, which was well publicized at the time was the monthly intervention from the Federal Government which commenced in December 2021 and terminated in June 2022.”

Accusing the Osun State government of presenting half-truth on the true position of the state’s  debt portfolio, Oyebamiji added: “One is at a loss about how the government will report the position of the state debt, leaving out very vital information such as the dates of procurement. In accounting, it is elementary knowledge that no valid amortization schedule can be presented by a competent accountant without a valid date of procurement. Where then is the commercial loan traced to the administration of Governor Adegboyega Oyetola? The question then is where is the loan procured by Governor Oyetola and who is the lender?”

He further described the claim that former Governor Oyetola owed workers salaries and pensions to the tune of N76 billion as unfounded. He challenged the state government to present any available facts to the contrary.

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