Commission indicts Oyinlola, wants him to refund N2.8b

The Commission of Enquiry set up by Governor Rauf Aregbesola of Osun State to investigate the circumstances and appropriateness of the procurement of N18.38 billion loan by the immediate past administration in the state and contracts awarded between 2003 to November 2010 has indicted former Governor Olagunsoye Oyinlola for leadership failure.
The Commission, headed by Professor of Criminology, Femi Odekunle, faulted the terms for the approval of the loan, which it described as inimical to the socio-economic wellbeing of the state, the irrational approval and reckless disbursement of the of the loan.
Presenting the 67-page report to Aregbesola, Odekunle announced that N2.8 billion should be recovered as mismanaged funds for various contracts.
The commission of enquiry also disclosed that eight persons found culpable be declared wanted while letters of indictment and reprimand be served on 15 officials, who collaborated in the defrauding process and were found wanting for dereliction of duties.
The Odekunle Commission of Inquiry in addition asked that two officials of the state be relieved of their duties.
According to the commission of inquiry, nothing is wrong in sourcing for loan to finance projects, but it frowned at what it described as dubious, reckless and unconscionable manner in which the past government went about the procurement of an N18.38 billion loan to finance six stadia and provision of office accommodation for political office holders.
The commission thus questioned the urgency with which the loan was sourced and disbursed.
Besides the commission was particularly taken aback that no dime was paid for vital projects, including the Abuja liaison office of the state, the Osun Five Star Hotel and the Osogbo-Iwo Road listed as those to be financed with the loan.
On the speedy consideration of the loan by the state House of Assembly, headed then by Hon. Adejare Bello, the Prof. Odekunle-led commission said failure to subject such vital approval to a public hearing and the unusual speed of 15 working days within which the approval was ratified was suspicious.
In his response, Aregbesola, who expressed his government’s appreciation to the commission for the zeal, passion and commitment with which it handled the assignment, assured the members that immediately the report is subjected to review by technocrats and approved by the Government-in-Council, a White Paper will be issued.
Aregbesola promised speedy consideration of the report, expressing satisfaction with the presentation of the report of the commission of inquiry.