Aregbesola Heads To The Bank Again As Osun Worker Expects Their Unpaid 8 Months Salaries

Governor Rauf Aregbesola

Report reaching us from Osogbo, the Osun State capital is that Governor Rauf Aregbesola and Zenith bank made have put on paper final pen to mortgage all 30 local government councils in Osun state for 9 billion naira debt as a way of deceiving the EFCC investigators whom we learnt are on the prowl in Osun state to investigates various money laundering and fund mismanagement's allegations against the state Governor.      

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         The loan we learn was facilitated by Mr. Wale Bolunduro, a former senior staff of the bank who was also the immediate past commissioner for the finance in the state. The money is to make up to a fund granted by the UBEC and immunization funds respectively which Governor Aregbesola collected from the federation account.

 This is despite the Osun banker s’ forum resolution has agreed not to borrow Osun State under Governor Aregbesola any money again because of the huge amount of loans which the state government has collected and are still servicing in different banks in the state.

It was gathered that Governor Aregbesola and Zenith bank was on Friday 26th June, 2015 signed “The debt amortization agreement” for another loan to a tune of N9Bn. Meanwhile, he did this by mortgaging the 30 local governments in the state by offering their joint allocation account as a security for the money. 

This is against a rumor which has been generating within the state that some workers has started receiving a credit alert of payment of 3 months salaries out of the 8 months owed by the state government.

Mr. Aremu of the State Ministry of work debunked this rumor while talking to us on the phone late on Friday night. He said “I have not seen any alert until now as I speak to you, I can’t say may be tomorrow”.  We spoke to some workers of the LAUTECH Teaching Hospital, and none was able to confirm the claim that their salaries have been paid.

The Implications of the loan Mr. Aregbesola is taking from the Zenith Bank is that:  Zenith Bank will be compelled to deduct some certain amount from each local government federal government allocation funds for the next ten years.

 This is believed to have perpetrated by the Governor as a preempt move to President Buhari’s plan of granting financial autonomy to local government in Nigeria. Whereas the repayment period of such loan might go on for the next 9-10 years, compelling the  local government administrations of today and the future to pay back loans which they know nothing about.