CEM REPORT, GOVERNANCE | Over N76 billion in salary and pension-related debts has been left by the Adegboyega Oyetola’s administration.
Osun State’s new Governor Ademola Adeleke uncovered the debt during a briefing by the Permanent Secretary of the Ministry of Finance, Bimpe Ogunlumade, on the state’s financial status.
According to the governor’s spokesperson Olawale Rasheed, contrary to the claim by the former governor that he left N14 billion in cash for the new government, the past administration incurred debt to the amount of N76 billion to include salaries, pensions, and insurance commitments.
He added that this is among other bogus claims that have now been found to be an outright falsehoods.
Breakdown of debt: The breakdown of the salaries and pension-related liabilities as disclosed by the Permanent Secretary are as follows: Salary: N29,875,191,128.64; Pension Arrears: N45,375,237,693.40; Group Life Assurance Scheme: N554,644,028.97, Total: N75,805,072,851.01.
He stated that the recently disclosed figure is not the total debt left by the past administration as briefings on other sources of liabilities continue.