● Says committee not out to witch hunt past administration.

OSOGBO- 16/04/2024

The Secretary to the Osun State Government, who doubles as the Chairman of the Osun State Asset Recovery Committee, Hon. Teslim Igbalaye in a press conference held at the Exco’s Lounge of the Governors office today assured the people of Osun State that the committee would adhere strictly to the rule of law while carrying out its mandate.

Igbalaye while addressing the press said due diligence will remain a priority. He further stressed that the press conference was called to have a clear picture of the situation, stating that Osun people should not see development as a means to which hunt the past administration.

“It was imperative for the committee to go through due process after the inauguration. Government properties like vehicles, buildings which were illegally possessed must be returned to the Osun state Government immediately”

The Osun State SSG while speaking reiterated critical observations by the Task force in a meeting held on Teusday, 5th March, 2024.

“At its meeting held on Tuesday, 5th March, 2024, the Task Force observed as follows:

i. That due diligence should be done with a view to ascertaining vehicles / assets that were lawfully permissible to be taken home from those illegally taken away;

ii. That the Executive Governor had the prerogative power to allow any political appointee go home with his/her official vehicle, having served for at least a period of two (2) years and payment of some amount of money into the coffers of the government, and if the vehicle was less than four (4) years old, the appointee would pay 10% of the residual value of such official vehicle;

iii. That the approval granted by the immediate past Executive Governor for the release and eventual ownership of the official vehicles (kia cars) allocated to members of the immediate past Osun State Executive Council followed due process; and

iv. That the letter of permission written by the immediate past Head of Service, directing political appointees of the immediate past administration togo home with the official vehicles allocated to them was, however, illegal.”

“Consequently, all government assets/ vehicles that are hitherto in the possession of the political appointees of the immediate past administration, which are not captured in the express provisions of the paragraphs ii and iii above, are deemed to have been illegally carted away, and such must be returned to the Osun State Government immediately.”

Responding to questions of ease and means of of recovery, the SSG maintained that the task force consists of legal and security representatives who are mandated to make sure that operations are carried out in respect to the rule of law.

“We have legal and security representatives. They are on this committe to make sure that the rule of law takes preeminence”, he concluded.

The SSG assured everyone that as another meeting is due in a few days, the public will be kept abreast of developments as events continues to unfold.

Signed:

Kehinde Adeoye,

Media aide to the Secretary to the Osun State Government.

OSOGBO- 16/04/2024- osunstate.gov.ng

Governor Ademola Adeleke has approved the appointment of Dr Wale Bolorunduro as chairman of Living Trust Mortgage Bank Plc.

The letter of appointment, dated 8th April 2024 and signed by the Secretary to the State Government, Hon Teslim Igbalaye reads as follows:

“I present to you the very warm compliments of the government and people of Osun State. I am pleased to inform you that the executive governor of Osun State, His Excellency, Senator Dr. Ademola Jackson Nurudeen Adeleke has graciously approved your appointment as a director and chairman designate on the board of Living Trust Mortgage Bank Plc.

“It is believed that you will employ your wealth of experience as an experienced banker and finance consultant to steer the bank in its next growth stage.

“The current economic climate of the country and recent development in the banking sector would pose challenges to banks, hence the state government’s decision to be proactive in ensuring someone with your wealth of banking and finance experience leads the bank. Wishing you well in your onerous assignment”, the letter reads.

In a separate letter addressed to the bank’s Company Secretary, the appointment was to take effect from Friday, 19th April 2024.

Dr. Wale Bolorunduro is a banking and finance consultant with over 35 years industry experience in the Financial Service Sector.

He obtained a PhD from the University of British Columbia. He served as commissioner for finance in the state and later as the bank’s chairman, until 2016. He led the team to raise the capital that saved the mortgage bank from losing its license.

Living Trust Mortgage Bank is owned by Osun State Government, Corporate and private individuals. The bank is quoted on the NgX with its shares trading at N3.27 on the last trading day.

Signed:
Mallam Olawale Rasheed,
Spokesperson to the State Governor.