N1.5billion: Aregbesola Meets 3 Bank M.D.'s to bankroll bye-election

A Civil Society Organization (CSO), the Civil Societies Coalition for
the Emancipation of Osun State (CSCEOS) has alleged that Governor Rauf
Aregbesola of Osun State on Saturday night meet with the three (3) new
generation Bank Managing Directors in Lagos with the aim of releasing
the sum of N1.5billion to the State government as a soft term loan to
be repaid from London-Paris Club refunds.

According to them, investigation revealed to the civil group that the
meeting was a result of the recent public outcry by the group (CSCEOS)
and retirees under the aegis of Nigeria Union of Pensioners (NUP),
alleging plan by the State government to divert the part of the
N12.7billion second tranches of Paris Club refunds for the forthcoming
Osun West bye-election and this was to avoid the ongoing noise
surrounding the Paris Club refunds .

Reliable source according to the group said that it was concluded at
the meeting with the banks to release N500million each where Sterling
Bank agreed to release its own N500million on Monday and they also
agreed that the loan would be paid back from Paris Club refunds
immediately after the bye-election.

In a statement issued by the CSCEOS’ Directorate of Media and Strategy
and signed by its Chairman, Comrade Adeniyi, Alimi Sulaiman and copies
made available to Journalists on Sunday in Osogbo, it maintained that
the N1.5billion funds in question were meant to be used from Thursday
6th of July, 2017 till Saturday 8th of July, 2017 bye-election day. It
warned the Chief Executive Officers (CEOs) of the affected banks
against collaborating with the State government to divert the Paris
Club on frivolity, saying that this was against public probity,
accountability and economic justice of the masses.

It urged the anti-graft agency, Economic and Financial Crimes
Commission(EFCC) and other security agents to beam searchlight to
these banks and other likely banks that might have been contacted by
Governor Aregbesola for this shady deal ahead of July 8th, 2017
bye-election. It also called on the well meaning people, especially,
elders of the State to call Aregbesola to order by spending the Second
tranche of the London-Paris Club Refunds on the payment of backlog of
salary and pension arrears with gratuities, instead of spending
part of the funds on the forthcoming bye-election.

Reported by Richard Akintade, Osogbo