Aregbesola Diverts Bailout Fund To Gain Interest, PDP Alleges

Aregbesola Diverts Bailout Fund To Gain Interest, PDP Alleges

The Osun state chapter of the Peoples Democratic Party has accused Governor Rauf Aregbesola of allegedly lodging the sum of N34.988 billion bailout fund the state received from Central Bank of Nigeria in an unspecified commercial bank.

Aregbesola Diverts Bailout Fund To Gain Interest, PDP Alleges
Governor Rauf Aregbesola

This accusation was contained in a statement issued in Osogbo, the state capital on Monday, September 7, by the state spokesman of the party, Diran Odeyemi, where he alleged that the governor decided to lodge the fund in order for it to yield interest, Daily Post reports.

The party statement read in part: “Only paper work was completed last week. But since the arrival of the money exactly 14 days ago, Mr. Aregbesola in his usual ‘I don’t care nature’ instead of commencing payments of workers dues, lodged the N35bn given to the state

READ ALSO: Aregbesola’s Aide Arrested Over Girlfriend’s Death (Photo)


“According to our findings, the bank that agreed to give Mr. Aregbesola the biggest interest running into several millions of naira was given the money to fix.

“The governor is buying time, for over two weeks now, he had been hiding behind staff screening to fish out ghost workers and the exercise is designed to last for another eight weeks."

The party expressed worries over the continued suffering of the state workers and pensioners who have to go through hardship due to non-payment of what is due to them.

Reacting to PDP's statement, media aide to the governor, Semiu Okanlawon, dismissed the claim of the main opposition party, saying there is no iota of truth in the statement.

READ ALSO: What APC Thinks Of Aregbesola Over Unpaid Salaries

Okanlawon noted that the said fund was only released by CBN to the state government last week.

Meanwhile, yet another group had joined those calling for the probe of the administration of Aregbesola.

The group, Civil Societies Coalition for the Emancipation of Osun state, submitted its petition to the Economic and Financial Crimes Commission asking the anti-graft agency to commence probe of the administration.

It stated that the governor erred for allegedly misappropriating about N10 billion the state received from the federation's account.


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Khadijah Thabit (Copyeditor) Khadijah Thabit is an editor with over 3 years of experience editing and managing contents such as articles, blogs, newsletters and social leads. She has a BA in English and Literary Studies from the University of Ibadan, Nigeria. Khadijah joined in September 2020 as a copyeditor and proofreader for the Human Interest, Current Affairs, Business, Sports and PR desks. As a grammar police, she develops her skills by reading novels and dictionaries. Email:

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