N18.3bn loan: Commission recommends punishment for Oyinlola failures

*By Oludolapo Odewumi The Commission of Enquiry set up by Governor of the State of Osun, Ogbeni Rauf Aregbesola to probe the activities of the immediate past Governor, Olagunsoye Oyinlola on the procurement of N18.38 billion loan has indicted him on the basis of leadership failure and recommended appropriate punishment to be meted out. The Commission was also set up to investigate how the ex- Governor managed other contacts between 2003 and November 2010. The Commission, headed by Professor of Criminology, Femi Odekunle, noted that there should be an indicting letter of observation for approving terms of loan which was harmful to the socio-economic well-being of the state while stating that the N18.3bn loan was recklessly disbursed. It questioned the way in which the loan was speedily sourced for and disbursed and cited the urgency in which the former Speaker, Hon Adejare Bello and other House of Assembly members ratified the loan in just fifteen working days. They also questioned the reason why the loan approval was not subjected to public hearing saying the move was suspicious. The report of the Commission was contained in a 67-page report in which Prof Odekunle gave the total of N2.8 billion as money to be recovered from mismanaged funds for various contracts. The Odekunle Commission of Inquiry revealed that in all, eight persons have been indicted along with the ex-governor and are hence declared wanted while adding that two officials of the state should be relieved of their duties Also, 15 officials who participated in the fraud or were found wanting in the discharge of their duties will be served with letters of indictment and reprimand. The Commission described the process of procuring the loan to finance six stadia, lablless kit and provision of office accommodation for political office holders as dubious, reckless and unconscionable. The Commission of Enquiry also expressed surprise at the fact that cash was not paid for important projects of the state such as the Abuja liason office of the state, Osun Five Star Hotel and the Osogbo-Iwo Road despite listing them as part of the projects to be financed by the loan. On his part, Ogbeni Aregbesola lauded the efforts of the Odekunle commission for the zeal, commitment and passion with which it carried out the task assigned to it. The Governor gave the assurance that the report will be reviewed immediately by technocrats and once it is approved by the government in Council, a white paper will be issued.