Ogun Drops Bid For N100bn Bond- The Punch

Somehow, I knew this was a wild goose chase from Day 1!

Gov. Gbenga Daniel

The Ogun State Government has dropped its quest to obtain a N100bn bond.

A faction of the state House of Assembly consisting of nine members of the lawmakers had approved Governor Gbenga Daniel’s request to raise the bond after impeaching the Speaker, Mr. Tunji Egbetokun, and suspending 15 other members of the house.

But the Deputy Speaker of the pro-Daniel faction, Mr. Ayo Odugbesan, told THE PUNCH in the state capital, Abeokuta, on Sunday that it was possible that the state government had dropped the idea.

“We have given approval to the state government to obtain the bond. The approval by the house is not the only condition needed for obtaining the loan as there are still some other issues to be cleared.

“From every indication, it is doubtful if the state government is still interested in pursuing the bond bid,” he said.

The Commissioner for Information and Orientation, Mr. Sina Kawonise, also gave an indication that the state government had dropped the quest.

When contacted on Sunday by telephone, he said, “Getting the bond is a long process. It is doubtful if it can come to fruition in the little time left in the life of this administration.

“I guess the next government will be the one to get it, if the need for it is still there.”

Kawonise also dismissed claims by the former Vice-Chancellor of the Crescent University, Abeokuta, Prof. Sheriffdeen Tella, that he quit his job a few days ago because some government officials threatened to kill him for opposing the controversial bond.

The leading opposition party in the state, the Action Congress of Nigeria, has also confirmed that the bond has not been obtained by the state government.The state chapter’s Publicity Director, Mr. Sola Lawal, said in an interview with our correspondent on Sunday that the state government had not obtained the bond.

According to him, “As at now, they have not obtained the bond; the crisis in the House was part of what stalled the move. Don’t forget that the lawmakers under Egbetokun had earlier challenged the executive to a public debate on the issue before the governor later backed out.

“Though the nine lawmakers approved it but we believe the government is aware that they will be acting illegally if they work on the basis of such an approval. We also know that no reasonable investor will stick his neck into such monetary controversial issue.”