Beaf:

Rauf the champion rascal.

femmy2010:

The PDP said they left some unspent part of they loan they took?doesnt that mean the account of the state was already in deficit before Oyinlola left.

When I read their tantrums about what we have done, I laugh.

Laugh!  Why?

I laugh because, as at the time we took over, this state was carrying a burden of N18.38 billion debt. The debt was not just an ordinary debt, it was a debt that was painful and suffocating. It was so bad that for the state to meet its recurrent expenditure, it had to borrow N1 billion every month.

As at that time, the total revenue of the state was N2.1 billion (IGR was N300million and allocation was N1.8 billion), out of which, right from Abuja , N615 million would be deducted, leaving N1.5 billion. The salary, at that time, was N850 million, leaving us with N650 million. Subventions to tertiary institutions in the state was N850 million, leaving us minus N150 million; and we will pay pensions of N250 million. I wouldn’t know how much specifically, but,  at that time, gratuity was already outstanding and it could not be less than N1.5 billion. I only knew that by June this year, the outstanding on gratuity was N2.4billion. What was allocated in December was N30 million and that was what I met, but in that month, I raised it to N50 million and, by April this year, I raised it to N150 million. If I want to be very meticulous and factual, let us say we must pay gratuity of N50 million and, if you subtract it, you will have minus N500 million. Apart from that, you must run government with money.

So, a billion naira loan has to be taken from the bank to augment every month and, by next month, you pay it off and continue. That was the situation I met.

Our multi-billion naira deal with a bank
By March, noticing the almost impossibility of running any government at all and having realized that there was no hope for the state should that regime continue, we discovered that our only saving grace was to restructure the loan and we desperately sought for a financial institution that could support us by refinancing and I got one finally in the First Bank. We were able to broker a deal that allowed us to refinance the loan, such that, today, as I am talking to you, the maximum we get on that suffocating loan is less than N100 million. We have removed the burden of the loan and we have spread it such that the state would not even know that it is paying anything.

If you subtract N100 million from N615 million, we have N515 million and, for ease of multiplication, let us say N500 million. They took the loan in June 2010 and we concluded the arrangement of refinancing in March. June to March is 10 months. The loan, by their own arrangement, was to last for 36 months and, if you take 10 months out of 36, we are left with 26 months. If you now multiply 26 by the N500 million we would have saved, it means that we have saved this state N13 billion by our action.

Apart from that, we have not taken a kobo from the N25 billion refinance deal we made with the First Bank. The facility was negotiated purely to refinance the suffocating loan already taken.

Many might not understand why I am using the word suffocating loan, but, by normal banking practice, if you apply for a loan and you are given, the ethical thing for the bank to do is to give    a portion of the money as you need it, not for the bank to claim that all the money should be given to you at once. So, my predecessor collected N18.38 billion and, from day one, Osun had the burden of paying full interest on the loan, even though they did not need the whole money from day one. That was the recklessness we stopped. I want to assume that if that is the only thing we could do, it is a major achievement.

Sam567:

This is not funny for the workers and retirees who have not been paid their last 2 months salaries in osun. Politics aside, this Governor whould pay its workers.

The party specifically challenged Aregbesola to explain why he had not paid the September salary of all workers at October 31.

asked the  state government, led by Mr Rauf Aregbesola, to account for the over N100 billion that had accrued to it in the last 11 months

hercules07:

Do not mind all these PDP rascals, they left an empty treasury with loans that could not be accounted for and they are making noise, Oyinlola will soon face the music, useless human being.

Osun Civil Servants, Council Workers In Pains

•As Oyinlola, LGs Refuse To Pay Salaries

OSUN State civil servants and workers of the 30 local government councils areas in the state have started to lament the Governor Olagunsoye Oyinlola-led administration as their salaries and other emoluments have not been paid in the last two months.

OSUN DEFENDER gathered on Wednesday that the civil servants and the council workers have resorted to obtaining loans, while others that have no substantial properties as sureties to guarantee the loans have been suffering the pangs of hunger.

According to some of the workers, who spoke to the medium under anonymity, the payment of their salaries was not on sight as they were told by their various banks that both the state and the council governments have nor released funds for the settlement of their salaries.

Some of the civil servants, who are close to the office of the governor and the state Ministry of Finance, disclosed to the medium that their salaries would not be paid except the Federal Government releases the allocation for the month of May as they were told by top political functionaries in the state.

But the salaries of the political functionaries and appointees, both in the state and the local government councils, have been paid since.

Investigation revealed that the state treasury is empty, as a result of what the aggrieved workers called lavish spendings on political functions and functionaries.

It was learnt that the governor has vowed not to pay the hapless workers from the controversial N18.3b loan, which he obtained last month (May) for the completion of his acclaimed feasible projects.

The medium further gathered that the alleged purchase of the election petition retrial tribunal’s verdict on the petition of Action Congress (AC), Engineer Rauf Aregbesola, by Oyinlola and the PDP was responsible for the shortage of fund in the state.

It would be recalled that the governor allegedly approached the tribunal members with the whopping sum of three billion naira with which he influenced the judgment, leading to his questionable victory on the case.

Besides, the governor had reportedly told the 30 local government council chairmen in the state not to expect any allocation until the legal tussle between him and Aregbesola at the Appeal Court comes to an end.

Reacting to the development, the Secretary, Campaign for Democracy and Workers Rights (CDWR), Comrade Kola Ibrahim, said the non-payment of the workers’ salaries carpeted the governor, whom he accused of deceiving the people of the state on his commitment to the welfare of the workers.

According to Ibrahim, it was an absurdity of the state governor, the political appointees and the 30 council chairmen to be celebrating what he called dubious victory when their workers were living in the uncertainty world.

He argued that a responsible governor with good initiative would not wait for the Federal Government allocation before he pays the salaries of his workers, maintaining that “the non-payment of the workers’ salaries while the governor and his political aides were spending lavishly on dubious victory” was disheartening and lamentable.

However, the salaries of the civil servants and council workers have not been paid as at the time of filling his report.

By ISMAIL USMAN

Sam567:

This is not funny for the workers and retirees who have not been paid their last 2 months salaries in osun. Politics aside, this Governor whould pay its workers.

On the payment of salaries of workers in the state civil service, Akere said the salaries of the workers for the month of August had been paid on Tuesday, while that of September would be paid by next week.

Explaining the basis for the delay in the payment of the workers’ salaries, the commissioner said “We have to emphasize again that the delay of payment of salaries was not the fault of the government at all.

“We all know that there was a strike which lasted for a month in August and the workers returned on the 5th of September.

At the Executive Council meeting we had on the 7th of September, we were told by those preparing the salaries that because of the new salary table, the working out of the salaries will take long.

We decided to pay the August salaries with old salary table and we will then use the new table for September as well as paying the arrears, but the leadership of the labour union said that they would wait until the salaries’ preparation is completed with the new table.

“Earlier before now, there had been standing order from the governor that salaries of workers in every month must not exceed 26th day of the month, but unfortunately because of the disruption on the payment of salaries in the last two months, the salaries of October will be paid by latest the first week of November and the subsequent ones would be regular”, he noted.

Beaf:

^
And Gbawe quotes Nairaland!
The quote in the meantime, does not even address any issue raised here. Months do not even match. Na wa!

@topic
Instead of paying workers, Osun seems to have lost track totally and become the manufacturing ground of paid aluta howlers and sundry praise singers who are sent on aimless missions around the country. Some of that crowd were arrested just last week on an ungodly mission to Abuja. Does praise singing take presedence over workers pay and food on the table?

What has been done with the 129billion received in the past 11 months?

Gbawe:

Where will all this mischief get you? The original link is: http://www.osundefender.org/?p=20783 . You should give up all these cheap stunts . They only make you look patently dishonest and decietful.

If you are so concerned about the workers in Osun State, why not reach out to the labour leaders who insist they are happy to wait and be paid under a new wage table?

Beaf:

Lol! I now understand why you hid the link originally. Quoting from Osun Defender is like quoting from Ovation magazine! You can do better, Gbawe. Seriously.

The question of what has been done with the 129billion received in the past 11 months still remains totally unanswered. and please don't bring up how Aregbesola "bought" 40 wagons and coaches for the federal govt to run on the railway lines or any of Aregbesola's other high stories. Thank you.

PointB:

lmao.

Anyway, I wont be surprised if Gbawe is the editor Osun Defender! Cos, it sound more like AregbeRascal Defender!

Beaf:

Lol. The name even gives it out, "Osun Defender." Its like they are the to "defend" the offences committed by their bosses.

koruji:

Yes, it is called Osun Defender to defend Osun against agents of darkness that took over in the name of PDP government for almost 8 years.

And it successfully conducted that defense. It documented the atrocities committed by the PDP government since they stole Aregbesola's election until they equally coughed it up.

You can choke on it if you like. Delta is burning, but Beaf is here bursting pipes over Osun State.

monkeyleg:

Let them start by asking Ibori, Uduaghan, Peter Odilli, and All the Grand thieves to account for the Trillions of Naira they were allocated whilst in office. After all PDP said Ibori did not steal, but there you have him being locked up for grand theft and money laundering in the UK

let them go and ask Uduaghan to account for how he can spend in excess of 40BN building motor park in Asaba, he even dares to call it an airport

Beaf:

Lol. The name even gives it out, "Osun Defender." Its like they are the to "defend" the offences committed by their bosses.

Beaf:

These days you just wake up and post like a rascal!

JBL316:

Do tht jobless punk know how much accrued to the federations account frm Obj to GEJ PDP-led govt? Was trying to compute it when my computer packed up after screaming Error several times. Have they accounted for it! God go purnish u!

Beaf:

These days you just wake up and post like a rascal!

Oyinlola: Salaries Take 65% of Osun’s Federal Allocation

By Vincent Obia

07 Sep 2010



Osun State Government spends about 65 per cent of its monthly federal allocation on the emoluments of its workforce, Governor Olagunsoye Oyinlola said weekend.

Oyinlola, who spoke in Osogbo at an “exit meeting” with members of a peer review team from the Nigeria Governors Forum (NGF) secretariat, said the state got an average monthly allocation of N2 billion from the Federation Account and spent about N1.3 billion on payment of salaries.

The governor explained that Osun State was number 33 on the federal allocation table, saying the state is constrained to take overdrafts almost every month to meet its obligations. He lamented the situation in the country where citizens’ existence is almost entirely dependent on government subvention. “In many other countries, government is the last port of call, but in Nigeria, government is the first port of call,” Oyinlola said.

seanet02:

Beaf has gone senile patapata