A former Deputy Governor of Osun State, Senator Iyiola Omisore, has said the administration of Governor Rauf Aregbesola took a loan of over N480bn from various sources since he assumed office in 2010.


Omisore said this at a press conference in Ile Ife on Monday.
Omisore, who is the governorship candidate of the Peoples Democratic Party in the state during the August 9, 2014 governorship election, accused Aregbesola of financial recklessness and lack of proper planning.

According to him, the loan burden and the alleged continuous wasteful spending by the governor are some of the reasons the administration has been unable to pay workers for the past seven months.

He said the governor also wasted the state’s resources on political campaigns during the last governorship poll and the just concluded general election without minding the consequences of his actions.
Omisore said, “The principal debt of Osun State under Ogbeni Rauf Aregbesola is N480bn. They took N300bn loan, by taking N10bn for each of the 30 local government councils.
“They first raised N60bn bond and later raised another N40bn bond. They borrowed for O’meal project, borrowed for school uniform project and borrowed for airport project.
“They borrowed another N25bn. But the principal debt is N480bn. You will remember that we were saying this before this financial crisis reached this height.
“I raised the alarm then that the way Ogbeni Aregbesola was running the affairs of the state, he would soon run it aground. Now it has happened.”
Omisore said since Aregbesola said it openly on Friday that the situation into which he drove the state was beyond him, he should resign honourably.
While offering suggestions on how the administration could salvage the situation, he advised that the governor should stop his ostentatious life-style and show a sign of remorse.
He said, “The governor should sell the helicopter; the helicopter has two pilots. They spend money on maintenance and so on. He should also stop using chartered aircraft. I am sure this will shock the people to hear that the governor still travels in chartered aircraft despite the financial mess he put the state into.
“He should reduce his security votes, reduce the Government House spending and stop giving Osun money to his Lagos visitors. He should bring back our money. The contracts were inflated, especially the road contract. Gbongan to Akoda, Osogbo to Kwara boundary and the Ring Road were inflated to the tune of N102bn. So, the money to workers is in his pocket. If he can bring just N50bn out from this stolen fund, the workers would smile.”
The former chairman, Senate Committee on Appropriation and Finance, said that he had been assisting people the way he could without making a noise out of it. He said if he wanted to play politics with the situation, he would station a trailer load of truck at the PDP secretariat and ask people to come and collect foodstuffs.


Source: http://www.punchng.com/news/aregbesola-took-n480bn-loan-says-omisore/

It's a big shame that we elected some governors who don't know their left from their right; news like the "#9bn wardrobe allowance" attract them to politics.
It's time we had a special court where failed politicians are prosecuted.

480b like seriously?

Aaah this aregbese na correct OLE.

The guy is only in Osun to milk them dry. That guy na big SCAM.
But the gullible market women in osun will neva see this. All he needs to get them is to sing one of his annoying songs, get them k1 or Osupa and get them some popular Yoruba artists(with the state's money). You will be surprise to see them hailing him again.

If not because there is no 3rd term, dat guy would ruled Osun state for 3 good terms. Civil servants hardly come out to vote in osun. Illiterates and market women are the major determinant of elections in Osun.

Cc: lalasticlala, Ishilove