Osun clears air on bailout fund

Yinka Salaam, Osogbo

Osun State House of Assembly.

Osun State House of Assembly has cleared the air on the controversy trailing the balance of the bailout fund from the Nigerian government.

It says the balance is N3.352 million and not N3.362 billion.

The Chairman, House Committee on Information and Strategies, Mr. Olatubosun Oyintiloye, made this known in a statement in Osogbo, the state capital.

He said the balance of the bailout fund to the State government was N3.352 million, while that of the local government councils remains N173,226 million.

Oyintiloye was reacting to a statement credited to the spokesman of a faction of the Osun chapter of the People’s Democratic Party, Diran Odeyemi, who had claimed the balance was N3.362 billion.

Defamatory statement
The lawmaker urged the people of the State to disregard Odeyemi and his claims, describing it as, “false, mischievous and misleading”.

Oyintiloye said while the balance of the local government councils fund, domiciled with the Zenith Bank stood at N173,226 million, that of the State, domiciled with the First Bank and the Wema Bank accounts, remained at N2.040 million and N1.312 million.

“These figures were given by the Accountant-General of the State, Mr. Akintayo Kolawole, when he appeared before the House of Assembly to give an account of how the bailout was utilised.”

“The representatives of the banks during the probe are: Adebayo Yakub (First Bank), Musbau Oyeniran (Wema Bank) and Ola Adedeji (Zenith Bank). These bank officials corroborated the figures given by the accountant general,” he said.

He added that the Chairman of the Nigeria Labour Congress, Jacob Adekomi; Chairman, Joint Negotiation Council, Adebayo Adejumo and other labour leaders were present at the probe and they corroborated the figures given by the accountant general.