N2 billion federal credit splits Ogun lawmakers

Ibikunle Amosun, Governor of Ogun State

The Ogun State House of Assembly recorded a new round of crisis Thursday, following an uproar among members over Governor Ibikunle Amosun’s move to obtain N2billion from a federal account meant for petty traders.

The fund is an initiative of the Federal Government, through the Central Bank of Nigeria, CBN.

While all the states of the federation have been pencilled down as beneficiaries, their governments can only access the funds after following due process which include an evidence of a resolution of the State assembly.

An alleged attempt by the Speaker of the Assembly, Suraj Adekunbi, and twelve others to pass the resolution met a brick wall and degenerated to verbal war.

The other 13 lawmakers vehemently opposed the move and resolution, arguing that the resolution did not meet up the two-third majority requirement of the provisions of the law. They also argued that the funds many raise the debt profile of the state.

The opposing group of lawmakers also faulted the approval for the use of Ogun State Agricultural and Multi-Purpose Agencies, OSAMCA, to access the money for onward disbursement to the traders.

The CBN requires that the state should establish a Micro Credit/MSME SPV which shall coordinate the applications by Participating Financial lnstitution, PFIs, for the fund. However, the PFls shall be solely responsible for the appraisal, disbursement and recovery of loans under the Fund.

The 13 opposing lawmakers led by Remmy Hazzan, posited that based on the failure to meet the CBN requirement, OSAMCA was not the qualified agency to access the fund.

However, the crisis resulted in separate and hurriedly-organised press conferences held by the two factions within the assembly complex.

The Remmy Hazzan led faction comprising 13 members signed the press statement to fault the controversial resolution.

In the statement, the faction said the controversial House Resolution 232/2014 of Ogun State House of Assembly was unconstitutional, null and void

“We, the undersigned members of the Ogun State House of Assembly, arising from the unlawful and disoderly passage of HR 232/2014 of the OGHA state as. follows: That the request for approval of the state government for the participation in the CBN MSMEDF was read to the OGHA on September 4th 2014.

The signatories included Samson Onademuren, Olufemi Allen-Taylor, Abiodun Akovoyon, Adijat Adeleye-Oladapo, Obafemi Olowo-Oloja, Hon. Joseph Obafemi, Salmon Adeleke, Olusegun Elemide, Elizabeth Anifowoshe, John Obafemi, Job Akintan, Bowale Solaja, Remmy Hazzan

In similar vein, the other members, also numbering 13, led by the Speaker, Suraj Adekunbi, at their own press conference maintained that the resolution was passed, following the submissions of the two commissioners that accessing the fund would not add to the debt profile of the state.

The Chairman House Committee on Finance and Appropriation, Olusola Bankole, and his Information and Strategy Committee counterpart, Olayiwola Ojodu, argued that all the twenty-six lawmakers had earlier at the executive session agreed on the resolution before leaving to the plenary session, hence, there was no basis for dissenting voices.


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  • Kay Soyemi (Esq.)

    Seems to me that both protagonists and antagonists of this debate are being immature.

    If they have agreed on the need for the loan and the vehicle for accessing it is the matter, why don’t they thrash out what is required by the enabling law?

    Having stated these, I failed to see where the said loan was going to benefit the common people, at least from the outcome of the brouhaha.

    Is this what governance has been reduced to? How to share and not how to benefit the common people!

  • Joseph Williams

    I must comment here that this is a nice book and a thought penetrating view by Dr.Sylvester Odion Akhaineand Mr. Kunle Ajibade.
    In addition to the remedies proffered in the book “the Lagos Plan of Action (LPA) and the African Alternative Framework to
    Structural Adjustment Programme for Socio-economic Recovery and
    Transformation (AAF-SAP) are two African-oriented plans worth
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    and Government of the Organisation of African Unity (now AU) at their
    Second Extraordinary Session in Lagos in April 1980”
    It must be worth our while to also look into the Bandung conference of 1954, where all third world and Asia nations got together to try to solve their economic and social inequalities compared to that of the developed economies