Adeleke Says He Inherited N407 Billion Naira Debt And Almost Empty Treasury

Governor Ademola Adeleke of Osun State has said that he inherited an almost empty treasury from the Oyetola Administration, along with N407.32 billion naira debt.

The governor said the only fund in the treasury was the salaries for the month of November 2022. He also alleged that Oyetola’s administration collected N18 billion naira loan after the July 16th governorship poll, in which the former governor was defeated.

Adeleke who made this known at a meeting with traditional rulers in the state at the government house, Osogbo, puts the total inherited debt to N407.32 billion naira as at last November 30.

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According to the governor, he inherited eight outstanding debts, including N76 billion naira salaries and pensions arrears.

Others are the outstanding of budget support fund loan (N51.86 billion naira); salary bail out loan (N38.8 billion naira);  restructuring banks loan (N158.7 billion naira); excess crude loan (N14.4 billion naira); CBN infrastructural loans (N9.2 billion naira)  and federal intervention loan of N1.7 billion naira.

The governor said former governor Oyetola must explain how the debts were incurred with nothing to show for it.