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N36Billion Monthly Deduction: Aregbesola Has Bastardized Osun Economy With unjustifiable Loans – CSO



……says, report vindicates Justice Oloyede

A Civil group, the Civil Societies Coalition for Emancipation of Osun State (CSCEOS) has expressed worry over the increase in the deduction of monthly allocation accrued to the State by the Federal Ministry of Finance under the watch of President Muhammadu Buhari as a result of different unjustified loans incurred by the State governor, Mr. Rauf Aregbesola, alleging that about seventy-five percent (75%) of the loans were siphoned by Aregbesola and his cronies by carting it away to Lagos State.

It would be recalled that an Intelligent News Medium popularly called “Economic Confidential Magazine” has reported recently that Osun state under Aregbesola’s watch were leading State which Federal Government deducted a total sum of N36billion from their allocations in the month of April, 2016 and the State were worse hit by this development and ranks number one, as its allocation for the month of April 2016 totaling N2.030 billion was wiped away.

It also disclosed that Osun state had nothing to take home for the month of April and other months in 2016 because sum of N2.391 billion were deducted leaving a deficit of N361 million to be paid in the subsequent month by the state, and this represents a whopping 117.8 percent of the total allocation due the state from the federation account.

Reacting to this development, in a statement issued on Monday by the CSCEOS’ Chairman, Comrade Adeniyi, Alimi Sulaiman declared that Aregbesola has bastardized the economy system of the State beyond redemption ,for the next twenty (20) years by collecting different loans from local and international financial institutions beyond the capacity of the State under the guise of putting one infrastructure or the other in place, noting the loans that put the State into debtor State were not justified the all acclaimed projects of Aregbesola’s government in almost six years in the saddle.

Comrade Sulaiman, however, stated that the report has vindicated the persecuted courageous and incorruptible Judge of the State High Court, Justice Olamide Folahanmi Oloyede in her 39 page Petition to the rubberstamp State of House of Assembly that Mr. Aregbesola has destroyed the State economy with “OMO EKO STYLE”, insisting that the loans being collected on behalf of the State by Aregbesola was over N500billion which the State may not be able to redeem in the next twenty-five(25) years, after Aregbesola would have left office in 2018.

The group then urged Aregbesola to take the courage to tell the whole world the total figure of the loan being collected on behalf of the State with the financial institutions that gave the loan, adding that Aregbesola has put the State in economy quagmire since 2013 which made the prosperous State not to perform its social obligations to her citizens again.


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