debts uncovered include a monumental debt in salaries, pensions and insurance commitments
The Osun State Government has discovered salary and pension-related debts, amounting to over N76 billion, left by the immediate past Governor Adegboyega Oyetola’s administration.
A statement by Malam Olawale Rasheed, the Spokesperson for Osun State’s new Governor Ademola Adeleke, said this was disclosed by Bimpe Ogunlumade, the Permanent Secretary of the Ministry of Finance while briefing officials of the new administration on the state’s financial status.
The debt uncovered included salaries, pensions and insurance commitments incurred by the administration of Gboyega Oyetola, amounting to N76 billion.
The disclosure is contrary to the claim by the former governor that he left N14 billion in cash for the new government. He added that this is among other bogus claims that have now been found to be an outright falsehood.
Breakdown of debt: The breakdown of the salaries and pension-related liabilities as disclosed by the Permanent Secretary as follows: Salary: N29,875,191,128.64; Pension Arrears: N45,375,237,693.40; Group Life Assurance Scheme: N554,644,028.97, Total: N75,805,072,851.01.
More debt to be uncovered: He stated that the recently undisclosed figure is not the total debt left by the past administration as briefings on other sources of liabilities continue.
Governor Ademola Adeleke of the People’s Democratic Party (PDP) defeated former Governor Adegboyega Oyetola of the All Progressive Congress (APC) after a fiercely contested gubernatorial election earlier this year. The new Governor was sworn into office last weekend.
