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Reject Any Loan Request from Amosun–Ogun APC Warns Banks

By Dipo Olowookere

Banks and other financial institutions have been warned not to yield to threats and pressures from the outgoing Governor of Ogun State, Mr Ibikunle Amosun, for the approval of last-minute loans, overdrafts and other financial instruments barely two months to the end of his tenure.

Publicity Secretary of the ruling All Progressives Congress (APC), Ogun State chapter, Mr Tunde Oladunjoye, in a statement on Monday in Abeokuta, the state capital, emphasised that any bank that approves such loan does so at its own risk.

The party alleged that Mr Amosun, a member of the APC, is planning to plunge the Gateway State into financial crisis so as to make governance difficult for the incoming Governor, Mr Dapo Abiodun.

“It has come to our notice that the outgoing governor has been exerting pressures on banks and financial institutions to grant frivolous loans, overdrafts and other instruments immediately Prince Dapo Abiodun was declared Governor-Elect.”

“We are equally aware that files and other sensitive governments’ documents are being moved out of government offices on the order of the outgoing Governor, His Excellency, Senator Ibikunle Amosun.”

“It is therefore important to let it be known to the concerned public officers that it is part of their duties to protect public properties, including files, documents and information at their disposal.

“As anything contrary to this will be running foul of the laws and their oath of office. The allegiance of the civil servants is to Ogun State and not to any individual, no matter who.

“As for the banks, we want to state categorically that the incoming administration believes so much in the rule of law and due process. Therefore, the administration will not honour any obligation that did not follow due process or any loans that did not receive the prior approval of the State House of Assembly.

“According to the National Bureau of Statistics, Ogun State’s Internally Generated Revenue has increased by 590 percent in eight years totaling N74, 835, 979, 000.51 (seventy four billion, eight hundred and thirty five million, nine hundred seventy nine thousand naira and fifty one kobo).

“Why the outgoing administration still wants “injury-time” loans despite those already incurred, beats one’s imagination and leaves much to be desired. The incoming administration will not honour such shady loans,” the statement said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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