The Osun State government on Thursday revealed the debt left behind by the former Governor Gboyega Oyetola-led government.
Governor Ademola Adeleke‘s administration disclosed that it has uncovered a monumental debt in salaries, pensions, and insurance commitments.
According to the Osun Government, the debt incurred by the immediate-past administration in the state is N76 billion.
The Permanent Secretary in the State’s Ministry of Finance, Bimpe Ogunlumafe stated this while briefing officials of the new administration on the financial status of the State.
The statement by the Adeleke-led government is contrary to the claim by the immediate-past Governor that he left N14bn in cash in the state coffers.
Oyetola had added that another N8 billion is being expected between December and January from the state’s performance in SFTAS and the IGR.
The breakdown of the salaries and pension-related liabilities as disclosed by the Permanent Secretary include (I) Salary: N29,875,191,128.64, (II) Pension Arrears: N45,375,237,693.40, and (III) Group Life Assurance Scheme: N554,644,028.97, amounting to N75,805,072,851.01.
The Spokesperson to the Governor of Osun State, Olawale Rasheed in a statement released on Thursday, however, said: “the public is advised that this is not the total debt left by the past administration as briefings on other sources of liabilities continue tomorrow.”
This article was originally published on Naija News