N50 Billion Ogun Debt Not Captured In Handover Note To Abiodun

Photo of Milford Sound in New ZealandPhoto of Milford Sound in New Zealand

N50 Billion Ogun Debt Not Captured In Handover Note To Abiodun

The Ogun State Government has said that the debt figure given to it by the immediate past administration did not capture the entire liabilities left behind.

The government said not less than N50 billion in financial liabilities were not accounted for in the financial report handed over to Governor Dapo Abiodun.

A statement by the Chief Press Secretary to the Governor, Mr. Kunle Somorin, said the omitted amount was financial liabilities incurred by the immediate past administration due to unpaid pensions, gratuities, and outstanding staff salaries “which surprisingly were not captured in the books left behind for the new government.”

“We only got to know about this amount in the course of carrying out due diligence on Ogun State finances shortly after we took over. And as a transparent government, committed to being accountable, we had to disclose this for the first time, to give a true picture of the state’s indebtedness.

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