OSUN State governor, Mr. Rauf Aregbesola and his predecessor in office, Prince Olagunsoye Oyinlola yesterday appeared before the commission of inquiry set up by the Aregbesola administration to probe contracts and financial transactions particularly the N18.38b loan obtained by the Oyinlola administration.
The two helmsmen of the state who came into the venue of the commission with members of their cabinet shed lights into the reasons why the loan was obtained and why it was bought back from UBA by First Bank by the present administration.
Throwing lights into the circumstances that surrounded why the loan was taken, Prince Oyinlola stated that his administration took the loan because the state was insolvent and that there was need to develop the state’s infrastructure.
But Aregbesola faulted the claim that he did not object to taking loan to finance physical infrastructure on a long term basis but queried why the past administration had to commit the state into taking what he called a “suffocating loan” with stringent conditions from the UBA.
Specifically, Aregbesola queried that, of what relevance is the use of constructing six stadia for the state hurriedly when the state is not hosting any national or international competition?
Aregbesola also insisted that of the 9 Technical Colleges, whose contracts were awarded with 70% Mobiliation fee. only one was built.
Earlier, Prince Oyinlola told the panel that his administration followed due process in the award of contracts but admitted that “there is no way we cannot see a little bit of slip in such a situation.
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com