OSUN State governor Ademola Adeleke has vowed to probe his predecessor, Adegboyega Oyetola, over a N407.32 billion debt owed by the state government.
Adeleke made the vow on Thursday. December 15, during a meeting with the Osun State Traditional Rulers Council in Osogbo, the state capital.
He explained that his administration discovered the N407. 32 billion debt after various sums of money in the eight credit facilities inherited from Oyetola were added to arrears of salaries and pension owed workers and retirees.
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According to him, his administration inherited eight outstanding loan facilities, which must be paid between the period of 16 months to 28 years.
Adeleke noted that the amount owed to contractors is not yet determined.
“The total loan stock as of today is N331.32 billion. If the N76 billion debt on salaries and pensions 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 at 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 I will demand answers. 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,” he said.
Adeleke further stressed that the form governor must explain how the N18 billion Bridge Loan received after he lost the election July 16 gubernatorial election was spent.
“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 pensions to the tune of N76 billion after collecting a N50 billion Salary Bail Out Loan from the Federal Government.
“The creditors, especially the commercial banks, must explain why various loans were given to an administration beyond its four-year tenure,” he added.
Adeleke, of the Peoples Democratic Party (PDP), took over from Oyetola, of the All Progressives Congress (APC) on November 27. Oyetola, who was seeking reelection for a second term in office, lost the July 16 governorship poll to Adeleke.
The ICIR reported that Oyetola, in his farewell message, said left behind cash of over N14 billion for his successor, Adeleke.
Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: umustapha@icirnigeria.com. He tweets @UsmanMustapha_M