wema-bank

Osun Assembly insists bailout fund remains N3.352m for state, N173.226m for LG

Osun Assembly insists bailout fund remains N3.352m for state, N173.226m for LG
The Chairman, House State House of Assembly Committee on Information and Strategies, Mr. Olatubosun Oyintiloye has insisted that the balance of the bailout fund given to the state government is N3.352 million while that of the local government councils is N173,226 million.

In a press statement issued and signed by Oyintiloye on Sunday evening, he made frantic efforts to clear the air on the controversy trailing the bailout fund, explaining that the balance was not N3.362 billion.

Oyintiloye said a statement credited to the spokesperson of a faction of Osun State chapter of the People’s Democratic Party, (PDP), Prince Diran Odeyemi concerning the balance of the bailout fund was mischievous and misleading.The lawmaker urged people of the state to disregard Odeyemi and his false claims.

His words “The public should disregard the defamatory statement credited to the factional spokesperson of PDP, one Diran Odeyemi who intended to mislead the public with his mischievous claims”.

He noted that the balance of the fund given to the local government council is N173,226 million and it is domiciled with Zenith Bank.

He added that the balance of the bailout to the state is N2.040 million which is at First Bank and N1.312 million in Wema Bank.

Oyintiloye said these figures were given by the Accountant-General of the state, Mr. Akintayo Kolawole, when he appeared before the House of Assembly to give an account of how the bailout was utilised.

He added that the representatives of the banks, present during the probe are: Adebayo Yakub (First Bank), Musbau Oyeniran (Wema Bank) and Ola Adedeji (Zenith Bank). These bank officials corroborated the figure given by the accountant general.

He stated that the Chairman of the Nigeria Labour Congress, Jacob Adekomi; Chairman, Joint Negotiation Council, Adebayo Adejumo and other labour leaders were present at the probe and they corroborated the figure given by the accountant general.

He said, “The balance of the bailout given to the state is N2.040 million which is at First Bank and N1.312 million in Wema Bank.

The bailout to the local government remains N173,226 million.

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Ezeadichie Onyeka Michael is the Co-Founder of Haelsoft, a Professional Services Company in Nigeria that provides Information and Technology Services for small and big size companies in Nigeria(Africa). He is an Entrepreneur and Venture Capitalist with Expertise in Web Technology and Digital Marketing. He has developed & Implemented Digital Marketing Strategies(Campaigns) for top brands across sectors in Finance, Telecommunication, Ecommerce who operate in the African market. His professional experience includes key roles at Google Business Group(Nigeria), Google Women on the Web (Nigeria), Edubridge Consultant and Wild Fusion where he has trained over 500 Entrepreneurs on how to use various Web Technology products to succeed online. Customer centricity, User Experience, Conversion optimization are 3 pronged framework he applies around the often-frenetic world of web analytics to ensure that clients stay competitive in the market. He believes that investing in talent is the key to long term success for brands across Nigeria (Africa).

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