Approve Amosun’s loan requests at your risk, Ogun APC tells banks

THE Ogun State Chapter of All Progressives Congress (APC), on Monday, warned financial institutions including banks in the state to shun alleged threats from the out-going state Governor, Sen. Ibikunle Amosun in an effort to secure last-minute loans and other credit facilities.

Tunde Oladunjoye, state Publicity Secretary of the party, said whichever financial institution offers such loan ‘does that at its risk’, as Amosun would leave in barely two months.

In a statement issued in Abeokuta, the state capital, the APC claimed since the announcement of the Governor-elect, Amosun had been allegedly pressurising banks in the state to grant frivolous overdrafts and loans.

He stated that sensitive government documents were allegedly being moved out of government offices on the directive of the Amosun.

As at April 2018, Amosun placed the debt profile of the state at N103bn. But by October 2018, it has risen to N106bn.

However, according to official figures from the Debt Management Office (DMO), the state’s local debt as at 30th June 2018 was N104, 933, 290, 271.91, the foreign debt was put at N32,143,543,184.9 totalled at N137, 076,833,456.81.

The press statement reads: “It has come to our notice that the outgoing governor has been exerting pressures on banks and financial institutions to grant frivolous loans, overdrafts and other instruments immediately Prince Dapo Abiodun was declared Governor-Elect.

“We are equally aware that files and other sensitive governments’ documents are being moved out of government offices on the order of the outgoing Governor, His Excellency, Senator Ibikunle Amosun.

“It is therefore important to let it be known to the concerned public officers that it is part of their duties to protect public properties, including files, documents, and information at their disposal.

    “As anything contrary to this will be running afoul of the laws and their oath of office. The allegiance of the civil servants is to Ogun State and not to any individual, no matter who.

    “As for the banks, we want to state categorically that the incoming administration believes so much in the rule of law and due process. Therefore, the administration will not honour any obligation that did not follow due process or any loans that did not receive the prior approval of the State House of Assembly.”

    Quoting the National Bureau of Statistics, he stated that, “Ogun State’s Internally Generated Revenue has increased by 590 percent in eight years totaling N74, 835, 979, 000.51 (seventy-four billion, eight hundred and thirty-five million, nine hundred seventy-nine thousand naira and fifty-one kobo).

    “Why the outgoing administration still wants ‘injury-time’ loans despite those already incurred, beats one’s imagination and leaves much to be desired. The incoming administration will not honour such shady loans.”


    Olugbenga heads the Investigations Desk at The ICIR. Do you have a scoop? Shoot him an email at [email protected]. Twitter Handle: @OluAdanikin

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