₦airaland Forum

The Osun State chapter of the All Progressives Congress, APC, has accused the administration of Governor Ademola Adeleke of planning to secure a N300 billion loan using the state’s 30 local government councils as collateral.

In a statement issued by its chairman Tajudeen Lawal on Tuesday, the party alleged that the proposal involved borrowing the funds from Unity Bank Plc and warned that such an arrangement would be unlawful.

Lawal claimed that the state government convened a meeting on Monday at the State Secretariat in Abere with local government officials and senior administrative officers where the alleged borrowing plan was discussed.

According to the APC chairman, those invited to the meeting include local government chairmen elected under the Peoples Democratic Party, PDP, Heads of Local Government Administration, Directors of Administration and Heads of Finance across the 30 councils and the Area Office.

“The plan of the Adeleke administration is to use each of the local government councils as collateral to secure a N300 billion facility from Unity Bank Plc,” Lawal said in the statement.

He alleged that the proposed arrangement would involve securing about N10 billion in loans tied to each council, adding that the plan could place additional financial obligations on the state.

Lawal argued that the move would contravene legal provisions governing the autonomy of local government councils and the borrowing powers of subnational authorities.

“The development shows a disregard for the rule of law because the Supreme Court has affirmed the autonomy of local government councils across the country,” he said.


The APC chairman also urged financial institutions to exercise caution in any dealings connected with the alleged borrowing proposal.

“The management of Unity Bank should be mindful that states do not have the legal authority to use local governments as collateral for loans,” Lawal stated.

He maintained that only the council executives reinstated by the Court of Appeal from the APC are recognised by law to administer the councils in Osun State.

“Any agreement entered into with individuals not recognised by law to act on behalf of the councils would be null and void,” Lawal said.

The party called on stakeholders within the state to scrutinise the alleged borrowing plan, insisting that such financial decisions should comply with legal and constitutional provisions.

Lawal also cited provisions of the Debt Management Office Act 2003, which outlines procedures for public borrowing and the approvals required before loans can be secured.

He said the law requires the involvement of federal authorities and the executive councils of local governments before any borrowing arrangement linked to councils can be concluded.

Meanwhile, the Accord in Osun State has called on the governorship candidate of the APC, Bola Oyebamiji, to clarify his alleged role in the management of a $20 million primary health care grant during the administration of former Governor Adegboyega Oyetola.

In a separate statement signed by the Accord state chairman, Pastor Victor Akande, the party questioned Oyebamiji’s actions while serving as Commissioner for Finance and Chairman of the State Procurement Board.

The party asked Oyebamiji to explain the decisions taken at procurement board meetings that deliberated on the disbursement of the World Bank-supported primary health care grant.

Akande said, “Osun people deserve to know what transpired during the procurement board deliberations and whether due process was followed in the allocation of contracts funded by the grant.”

He also asked whether the procurement board’s recommendations to the State Executive Council complied with procurement laws guiding the management of public funds.

The Accord stated that records of the procurement processes were available and urged the APC candidate to provide explanations regarding the handling of the grant.

press9jatv:
Adeleke will be exposed of his dubious means on every side by God's Grace. This same Adeleke just want to put Osun State to another debt ridden state again.. enough of looting in this government..

fergie001:
You just dey make me laugh.

fergie001:
You just dey make me laugh.

fergie001:
You just dey make me laugh.

Freshandfitpod:
If you see press9jatv, just know it's propaganda

Ofunaofu:
He is actually a comedian

press9jatv:
you can never accept the truths here. Pele oooo

press9jatv:
you can never accept the truths here. Pele oooo

Thundafireseun:
I have said this before and I will gladly say it again….

This man is a one time governor

press9jatv:
how far with your PDP now? PDP now has 2 governors. Kikiki 😂😆😆😆

press9jatv:
keep laughing 🤣🤣🤣🤣

fergie001:
At least you have admitted you are now in APC but we go beat Igbin like thief in August.

anonimi:
Irú òtítọ́ wo ni ó wà ní ẹnu propagandist liar of APC chronic debtors

Freshandfitpod:
Adeleke is 4+4, it's his birthright

press9jatv:
https://dailypost.ng/2026/03/10/osun-apc-alleges-gov-adeleke-plans-to-use-lgs-as-collateral-for-n300bn-loan/?utm_source=operamini&utm_medium=feednews&utm_campaign=operamini_feednews

dhope:
Why won't he use LG as collateral to borrow when you people have stiffled his neck and used federal power to seize LG allocation for over a year? 300bn is even small, if na me na 800bn I will used LG to borrow because I will ensure I get back the money I have been using to pay salaries of LG staff since a year and pay interest on the loan I borrowed to meet such obligations.
If not because APC is evil, why would FG open and fund account for their illegal LG chairmen even after the term of office they're claiming has expired.

erad:
How will people that passed through the 4 walls of a school ever say anything like this? How will it even work? This is what happens when thuggery is given a higher priority over intellect because a party that has intellectuals will never ever think of making such highly unreasonable accusation.

So let's assume for stupidity purposes that this is true, what happens if they can't repay the loan? The bank will take over the local governments? Jesus! See the thought process of a bunch of so called adults. Something a child will say and they should flog that child silly.

He whom the gods want to kill, they first make mad. Osun APC is starting to run mad.

By the way, since I saw the thread about Omisore dragging them to court, I already knew Mr Press9jatv is about to pay Nairaland for another front page propaganda. It's just sad Seun has allowed himself and his platform to be used for such. I don't know what they've promised you, but they can't be trusted. They'll only use you and dump you after their devilish aims have been achieved which will never be achieved in this instance.