- A new revelation has shown that ex-president Olusegun Obasanjo went broke after leaving the office as Nigeria's military head of state in 1979
- The dilemma of the ex-military general was narrated by a veteran journalist, Musikilu Mojeed, in his new book titled, The Letter Man
- Mojeed narrated that Obasanjo got a loan from UBA to set up his Ota farm after leaving office and went broke again about 3 years after; thus, the need to borrow N80,000 from his old friend Samuel Ogbemudia
Olusegun Obasanjo has been revealed to have gone broke and depended on loans to run his Ota farm after leaving office as head of state in 1979.
This was disclosed in a book titled "The Letter Man", written by Musikilu Mojeed, a veteran journalist, Premium Times reported.
According to the book, Obasanjo got a loan from a commercial bank to set up his Ota farm after leaving office.
The true story of Obasanjo after leaving office
Obasanjo was the Nigeria military head of state between 1976 and 1979 and handed over to a democratically elected President, Shehu Shagari, through a transition programme.
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Obasanjo was later elected in 1999 as president, marking the beginning of the fourth republic, and he served terms of 4 years each.
In summary, Obasanjo ruled Nigeria for a period of 11 years.
The Owu-born national hero is popular for his letter-writing, and this formed the title of Mojeed's book that shares the context of Obasanjo's letters.
Latest about Olusegun Obasanjo, The Letter Man, UBA, Ogun
The author narrated how Obasanjo got a loan from the United Bank of Africa (UBA) to set up the farm. About 3 years after leaving the office, the ex-head of state got broke again and needed another loan of about N80,000 from an old friend, Samuel Ogbemudia, an ex-military governor of the defunct Midwest region.
Mojeed disclosed that he obtained a number of letters, and there is an indication that Obasanjo did not leave office as a military head of state as a wealthy man
The book reads in part:
“There are also indications that he did not leave office in 1979 as a wealthy man. I sighted a letter indicating he obtained a loan from the United Bank for Africa to start Obasanjo Farms Limited. And by May 1982, less than three years after he left office, he had gone broke."
Exclusive: How Obasanjo, Adebanjo divide Afenifere, move from supporting PDP to Obi, dump Tinubu
Legit.ng earlier reported that the recent development where Ayo Adebanjo, the factional leader of the pan-Yoruba socio-political group Afenifere, endorsed Labour Party presidential candidate Peter Obi, has continued to generate reactions.
The polity became heated when another faction led by Pa Reuben Fasoranti endorsed Bola Tinubu of the All Progressives Congress (APC).
But Gbemisola Adeoti, a professor of literature in English, travelled down the history lane and revealed how the division in Afenifere started and the role former President Olusegun Obasanjo played in the division.