24th June, 2022
The Ogun State government has declared that Governor Dapo Abiodun-led administration did not receive N37b from the Federal Government as reimbursement of expenses on road projects carried out by Ibikunle Amosun’s administration.
The State Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, stated this via a statement issued on Friday.
Okubadejo maintained that the said money was processed and received by the immediate past administration as payment for the State government expenses on FG roads.
The commissioner issued the clarification after some online news media reported that the money was paid to Governor Abiodun-led administration.
Clarifying the reports, Okubadejo explained that the last payment on the Federal Government road refund program was made before the current administration came on board as all efforts to recover further road refunds from the FG have not materialized.
He said: “A total of N37bn was paid to the immediate past administration for FG road refund to the State, in two tranches of FG Treasury Note instruments of N15bn and N22bn respectively.
“The first Treasury Note of N15bn issued in December 2018 was discounted in January 2019 for N10bn, while the second Treasury Note of N22bn was discounted for N17bn during the first quarter of 2019, thereby resulting in total finance charges of about N10bn incurred by the State.”
While noting that the explanation was necessary to put the records straight, Okubadejo advised journalists to always verify their facts before rushing to publish.
He further maintained that the incumbent administration is open and transparent, saying “this explains why it has always published its Annual Audited Financial Statements, promptly as required.