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Amosun clears the air on bailout fund comment

By News Express on 22/11/2015

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Ogun State Governor, Senator Ibikunle Amosun, has refuted claims that he said the federal government will write off the bailout fund extended to states of the federation.

“I was quoted out of context. I never said the Federal government was going to write off the bailout fund,” Governor Amosun said.

“Contrary to reports in some sections of the media, at no point during the opening session of the state Treasury Board meeting for the year 2016 budget held on Friday, November 20, did the governor categorically state that the federal government was going to write off the bailout debt of states,” Amosun’s media aide Adejuwon Soyinka said yesterday in a statement.

What happened, according to him, is that the governor, upon being briefed by the Deputy Governor, Chief Mrs. Yetunde Onanuga, who attended the last National Economic Council meeting held on Thursday, November 19, said states of the federation spoke about challenges they were facing in meeting their obligations towards repayment of their rescheduled loans or bailout fund.

“He said in view of this, states requested for some sort of moratorium or outright cancellation of their debts,” Adejuwon Soyinka said.

“Governor Amosun however never said that the federal government has decided to write off the debt or give any sort of moratorium,” he further said, adding:

“The Governor also spoke about how Ogun State is the only state in the federation that opted for 10 years repayment plan as opposed to the 20 years that was originally proposed by the federal government.

“Governor Amosun, in fact, said his administration hopes to fully repay the bailout loan before the end of his tenure of office.”

•Photo shows Governor Amosun.

Source News Express

Posted 22/11/2015 05:28:16 AM

 

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