Connect with us

Latest News

Osun: Adeleke Uncovers N407.32bn Debts, Left by Oyetola’s Govt



Osun Election Petition Tribunal nullifies Adeleke’s election; as Court throws out suit seeking Tinubu’s disqualification

…Some Cleverly Spread out for 28 years!***

Gov. Ademola Adeleke of Osun, says his administration has so far uncovered a debt of N407.32 billion left behind by the immediate past Gov. Gboyega Oyetola.

Adeleke made this known on Thursday in Osogbo at a meeting with the traditional rulers in the state.

“I called this meeting first to meet our royal fathers and to present to you the official debts profile of Osun as of Nov. 30 and as submitted to me by the state Accountant-General.

Also Read: 13% Derivation: Adeleke Vows to Recover Monies owed by Gold Mining Operators

“With a high sense of responsibility, I am reporting to our people, through our traditional rulers, the total debts profile inherited by my administration from Gov. Oyetola’s administration.

“This event is in pursuance of my pledge to Osun people to be transparent and run an open government.

“My administration inherited eight outstanding loan facilities, apart from salaries and pension debts, from Gov. Oyetola’s administration,” he said.

The governor said that the repayment period of the loans ranges from 16 months to about 28 years.

He listed the loans to include:

“Budget Support Facility: Outstanding Balance: N51.8 billion, Monthly repayment: N154.9 million, Repayable Period Outstanding: 335 months = 27 years nine months.

“Salary Bail Out Loan: Outstanding Balance: N38.8 billion, Monthly Repayment: N232.77 million, Repayable Period Outstanding: 167 Months = 13 years nine months.

“Restructured Commercial Bank Loans: Outstanding Balance: N158.77 billion; Monthly Repayment: N1.14 billion, Repayable Period Outstanding: 139 Months = 11 years six months.

“Excess Crude Account (ECA) Loan: Outstanding Balance: N14.48 billion, Monthly Repayment: N89.97 million, Repayable Period Outstanding: 161 Months = 13 years four months.

“CBN Infrastructure Loan: Outstanding Balance: N9.2 billion, Monthly Repayment: N44.98 million, Repayable Period Outstanding: 205 months = 17 years, one month.

“FGN Intervention Loan: Outstanding Balance: N1.7 billion, Monthly Repayment:

N100 million, Repayable Period Outstanding: 17 months.

“FGN Bridge Finance Facility: N18.04 billion (A large portion of this particular loan was taken after the July 16 election, which Gov. Oyetola lost. No information on the Repayment terms.),” he said.

Adeleke said no kobo of the N18 billion loan was left in the state government’s coffers, when he assumed office, adding that no explanation was also provided by the last administration on how the loan was expended.

He said that the foreign loans discovered were 86.2 million dollars, adding, “there is no information on the repayment terms of the loan”.

“My good people of Osun, the total loan stock as of today is N331.32 billion.

“If the N76 billion debt on salaries and pension are added, the state is indebted to the tune of N407.32 billion. The amount owed to contractors has yet to be determined.

“The only fund in government coffers, as at Monday, Nov. 29, was for November 2022 salary, otherwise, the state treasury was empty,” he said.

The governor said that Oyetola must explain how the N331 billion borrowed in the name of the state was expended, with no obvious infrastructure development to justify the huge debt.

“Oyetola must explain how the N18 billion Bridge Loan taken after he lost the election on July 16, 2022, was expended.

“Oyetola must also explain why Osun State is owing salaries and pension to the tune of N76 billion after collecting a N50 billion salary bail-out loan from the Federal Government.

“The creditors, especially the commercial banks, must explain why various loans were given to an administration beyond its four-year tenure,” he said.


Ramadan: Transportation Minister calls for self-reflection, prayer for Nigeria



Ramadan: Transportation Minister calls for self-reflection, prayer for Nigeria

… As Bauchi auto crash claims 25 lives, injures 10 others***

The Minister of Transportation, Mu’azu Sambo has advised Nigerian Muslims to engage in self-reflection and prayers for the country during Ramadan.

This was made known in a statement issued by Henshaw Ogubike, the Director of Press and Public Relations in the Ministry on Friday in Abuja.

In his Ramadan message, Sambo extended warm wishes to Islamic faithfuls and prayed to Almighty Allah to shower them with love, peace, prosperity and joy.

The minister urged Muslims to deepen their devotion and show brotherly love to everyone around, particularly the less privileged, during the holy month.

“Let us therefore in this holy month deepen our devotion, extend our bond of fellowship and compassion to everyone around, particularly the less privileged in our communities,” he said.

The minister also prayed for the security of all Nigerians and prosperity for the country.

“May the Almighty Allah ease our adversity; shower us with love, peace, prosperity and joy. May we be free from harm, and our nation be blessed and prosperous,” he said.

Tragedy struck on Thursday in Udobo village in Gamawa Local Government Area of Bauchi State when 25 people lost their lives in a lone auto crash.

Sector Commander of the FRSC in Bauchi State, Mr. Yusuf Abdullahi, told the press in Bauchi on Friday that 10 other persons sustained injuries in the crash.

He said the accident involved one Toyota Hummer bus in which the over-speeding driver lost control after a tyre burst.

“Thirty-five persons were involved in the road crash.

“Twenty-five of them – nine adult male, 11 adult females, two male children and three female children – lost their lives on the spot.

“Ten others sustained serious injuries and they are all male adults,’’ he said.

He added that the injured were taken to the Federal Medical Centre, Azare in Katagum Local Government Area of the state, while corpses of the deceased were taken to Hadeja in Jigawa for burial.

Abdullahi charged motorists to always be conscious of traffic rules and regulations while plying the roads. 

Continue Reading


AfDB, BCI promote women’s access to finance in Africa with $485,000



AfDB, BCI promote women’s access to finance in Africa with $485,000

The African Development Bank (AfDB) and the Bank for Trade and Industry (BCI) of Mauritania have signed a 485,000 dollars agreement for Affirmative Finance Action for Women in Africa (AFAWA).

The bank in a statement said that the programme was aimed at promoting women’s access to finance in Africa.

“The Promoting Access of Women-Owned Enterprises to Financial and Technical Support Services in the Western Sahel Region project is financed by AfDB with support from Women Entrepreneurs Finance Initiative (We-Fi).

“The project aims to strengthen BCI’s financing capacity for trade and industry and to better support women small and medium enterprises in Mauritania, Mali, Senegal and Guinea,’’ it said.

It said that Mohamed El -Azizi, AfDB’s Director-General for North Africa and Isselmou Tajidine, Managing Director of BCI’s Trade and Industry Group, signed the agreement.

It said that the agreement was signed on the sidelines of the Mauritania Investment Forum.

The forum with the theme, “Invest Days-Nouakchott’’, was organised by the Mauritania Investment Promotion Agency.

AfDB’s director-general for North Africa said: “The signing of this technical assistance agreement with the BCI Group is an important step in supporting financial inclusion and growth of women-led SMEs.

“This plays a crucial role in Mauritania’s economic development.

“The agreement consolidates a 10 million euro line of credit, approved by AfDB’s board of directors to BCI in 2021, to support growth and trade of strategic small businesses of women entrepreneurs.’’

BCI’s managing director said that the project reinforced the bank’s strategic partnership with AfDB and would position the bank as the choice for women entrepreneurs in Mauritania, Senegal, Mali and Guinea.

Tajidine added that it would help to expand the bank’s offering of financial products and technical support for women-led businesses.

AFAWA and the Mauritania Investment Promotion Agency organised a workshop on strengthening financial inclusion of women’s SMEs in Mauritania during the Invest Days-Nouakchott Forum.

The session presented the mechanisms of the initiative, including the “Guarantee for Growth” programme implemented by the African Guarantee Fund.

It also provided an opportunity to discuss the regulatory framework and steps that authorities and businesses can take to improve financial access for women’s businesses.

The forum also featured the inauguration of the AFAWA ambassadors programme which will advocate accelerated access to finance for Africa’s women entrepreneurs and showcase women leaders.

Continue Reading

Health and Safety

NAFDAC urges journalists to join in fight against circulation, use of bleaching creams 



NAFDAC urges journalists to join in fight against circulation, use of bleaching creams 

 The National Agency For Food and Drugs Administration and Control (NAFDAC) has urged journalists to collaborate with the agency in the fight against the circulation and use of bleaching creams in the country.

Prof. Mojisola Adeyeye, Director-General (D-G), NAFDAC, made the call while sensitising journalists in the North Central States on the dangers of bleaching creams.

She made the call at a North Central Zonal Media Sensitisation Workshop on the dangers of bleaching creams and regulatory controls which was organised for the Association of Nigeria Health Journalists on Friday in Jos.

Adeyeye said the workshop was aimed at educating and challenging health journalists in Nigeria to play frontline role in the agency’s effort to eradicate the menace of bleaching creams.

The D-G was represented by Dr. Leonard Omokpariola, Director, Chemical Evaluation and Research of the Agency.

 “Bleaching creams damage vital organs in the body, cause skin irritation, allergy, skin burn, rashes, wrinkles and prolong the healing of wounds.

“Black is beautiful, we don’t need to change our color.

“NAFDAC will constantly engage the mass media as we strive to bring down to the grass root levels positive impact of our regulatory activities,” she said.

On his part, Dr. Abubakar Jimoh, Director,  Public Affairs of the Agency, said: “The workshop was meant to educate the mass media with the right information and campaign against the use of bleaching creams in Nigeria.

“Public ignorance is not an excuse before the law. The role of the mass media in the promotion of public health is very important not only for cosmetics and all other NAFDAC regulatory products”. 

In a remark, Mr. Hassan Zaggi, President, Association of Nigeria Health Journalists, said: “Skin bleaching cream is a serious concern among the citizens in the country.

“Why would somebody use his hard-earned money to buy a cream that will endanger his skin?.

“As journalists, we have a responsibility to educate people on the dangers and as well shape the opinion of the people,” Zaggi said.

He appealed to the journalists to pay attention to the workshop for onward circulation of learning outcomes to members of the public. 

Continue Reading

Editor’s Pick