Ogun denies ​obtaining foreign loan

Ogun State Governor, Ibikunle Amosun,
Ogun State Governor, Ibikunle Amosun,

The Ogun State Government has denied securing any foreign loan and accused the opposition Peoples Democratic Party of peddling the rumour.

The Commissioner for Finance, Kemi Adeosun, said this at a press conference which held in Abeokuta on Sunday. She said the performance of the present administration has continued to give ​the ​opposition sleepless nights​.​
 
“We restate again that we have not taken any foreign loans. Indeed if they were conversant with financial regulations they would or should know that foreign loans can only be taken with the express approval of the Federal Ministry of Finance and is subject to legislative assent”, Ms. Adeosun said.
 
“The DMO maintains and publishes periodic data on our loan portfolio and we invite the PDP to provide proof to substantiate their allegations or keep their peace
​,​” the commissioner added.
 
“It has always been our position that Ogun State is financially robust and we are confident that the present challenges will be overcome with our innovative strategy to accomplish our
​m​ission to ​r​ebuild our dear state”, she stated.
 
“This is evidenced by the achievements of our administration in restoring sanity to our clime by ensuring security of lives and property, rebuilding infrastructure, attracting industries, restoring investors’ confidence, putting the education and health sectors right and generally raising the standard of living of our people. We make bold to say that under our administration, things are really getting better”.
 
”The financial performance of this administration has consistently perplexed our detractors. They have therefore resorted to wild allegation of secret foreign loans,” Ms. Adeosun stressed.
 
The commissioner further accused the Governorship Candidate of Peoples Democratic Party, Gboyega Isiaka, of contributing to the financial challenges of the state.
 
Ms. Adeosun said the PDP candidate took a loan of N1.6billion guaranteed by the government while he was in charge of the Gateway Holdings Limited.
 
She stated that the loan turned out to be mis-managed as it turned out it was for the purported construction of a head office and a mega filling station.

“While not wanting to join issues with the PDP candidate, Mr. Gboyega Isiaka, it must be pointed out that his personal financial mis-management has contributed to the financial challenges we have faced”, the commissioner stated.
 
“It will be recalled that under his leadership Gateway Holdings took a loan, guaranteed by Ogun State Government, of N1.6 billion for the purported construction of a head office and a mega filling station”, Ms. Adeosun said.
 
“It is shame that there is nothing beyond a foundation to show for the loan taken and the proceeds cannot be accounted for. In addition, not one naira was repaid,” the commissioner said.


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