Adeleke, APC trade accusations over loan debt

From Lateef Dada, Osogbo

The All Progressives Congress (APC) and Osun State Governor, Ademola Adeleke, have traded accusations over loan debt of the state.

While the APC accused Adeleke of obtaining a loan running to N81.6 billion, the spokesperson to the governor, Olawale Rasheed, described the allegation as ‘fake news.’

Speaking at a press conference in Osogbo, yesterday, Director of media and Information of APC, Kola Olabisi, alleged that the current administration in Osun is on the verge of plunging the future of the state into a deep financial mess having obtained a combined foreign loans of $51 million, N81.6 billion equivalent, using the exchange rate of N1,600 to $1.

“Information obtained from the Federal Ministry of Finance indicates that Osun State has accessed the sum of $20 million of N-CARES, equivalent of N32 billion.

“Ordinarily, the first phase of the NG-CARES ended in June 2024, however, the Osun State governor, we are aware, has been misled to go for the second phase of the programme.

“Therefore, the state has signed all relevant documents to signify her intention to participate in the second phase of the NG-CARES programme. It is called NG-CARES additional financing. The Naira equivalent of the loan is N24 billion and the disbursement of this facility is scheduled for any moment from now. In total, the state will obtain the sum of $35 million (equivalent of N56 billion) on the NG -CARES facility.

“The impression that the administration has not obtained any loans since inception is a lie from the pit of hell. Part of the state’s 2024 budget is being financed from the NG-CARES facility,” Olabisi said.

Reacting to the allegations, Rasheed said, “APC has been peddling the news, and we’ve been debunking it, but the lucky thing for us is that Osun people are highly educated and they know when a government wants to take a loan. The story of N10 billion, N16 billion, and all those is fake news.

“I’ve been a member of the executive council from the beginning, and I want to tell you, there has never been any member seeking approval for any loan for any project in Osun. That is fake news.

“How can you call N’care, the World Bank matter that we even inherited from both former governor Aregbesola and Oyetola our matter? It’s not our matter. It’s a federal matter,” Rasheed said.