N37 Billion Road Project Refund Was Paid To Amosun Not Me, Says Abiodun - THE ENCOUNTER NEWS


Monday, June 27, 2022

N37 Billion Road Project Refund Was Paid To Amosun Not Me, Says Abiodun

ABEOKUTA - The Ogun State Governor, Prince Dapo Abiodun has denied receiving N37billion from the federal government as reimbursement of expenses on road projects carried out by the past administration.

Abiodun said the money was processed and received by Senator Ibikunle Amosun's administration, declaring that the money was not paid to his administration as speculated in the media.

The Minister of Information and Culture, Lai Mohammed had last week during the Federal Executive Council (FEC) meeting in Abuja announced that the sum of N477billion was piad to about 24 states as refund for federal road projects part of which N37billion was paid to Ogun State.

But Governor Abiodun while reacting through his Commissioner for Finance and  Chief Economic Adviser, Dapo Okubadejo explained that the last payment on the Federal Government road refund programme was made before the current administration came on board as all efforts to recover further road refunds from the FG have not materialized. 

"A total of N37bn was paid to the immediate past administration for FG road refund to the State, in two tranches of FG Treasury Note instruments of N15bn and N22bn respectively. 

"The first Treasury Note of N15bn issued in December, 2018 was discounted in January, 2019 for N10bn, while the second Treasury Note of N22bn was discounted for N17bn during the first quarter of 2019, thereby resulting in total financial charges of about N10bn incurred by the State", Okubadejo disclosed. 

While noting that the explanation was necessary to put the records straight, he advised journalists to always verify their facts before rushing to publish.

Okubadejo further maintained that the incumbent administration is open and transparent, saying "this explains why it has always published its Annual Audited Financial Statements, promptly as required.

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