Osun APC alleges Governor Adeleke plans to use 30 local councils as collateral for a N300bn loan from Unity Bank
The Osun State chapter of the All Progressives Congress (APC) has accused Governor Ademola Adeleke of planning to secure a N300 billion loan using the state’s 30 local government councils as collateral.
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APC Chairman Tajudeen Lawal said the plan involves borrowing from Unity Bank Plc, with about N10 billion tied to each council.
He warned that the move could violate local government autonomy affirmed by the Supreme Court.
Lawal urged financial institutions to exercise caution, noting that only legally recognised council executives can administer the councils.
He also cited the Debt Management Office Act 2003, which outlines required approvals for public borrowing.
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Separately, the Accord party in Osun called on APC governorship candidate Bola Oyebamiji to clarify his role in managing a $20 million primary health care grant during former Governor Adegboyega Oyetola’s administration.
