Sunday, 13 October 2019 13:39

N7.6 CBN agric loan: Why I dragged Ajimobi to court – Gov Makinde

Fresh facts have emerged on why Oyo State governor, Seyi Makinde, dragged former governor of the state, Abiola Ajimobi, to court over N7.6 billion loan from Central Bank of Nigeria (CBN) for resuscitation of some farm settlements in the state.

Sunday Sun gathered that Makinde, as governor-elect, had dragged Ajimobi’s administration to the state High Court in a case with reference number: M/284/2019, and on May 7, 2019, secured an injunction that restrained the then governor from accessing the N7.6 billion loan.

The governor in a statement issued by his Chief Press Secretary, Mr Taiwo Adisa, yesterday stated: “You may wish to recall that sometimes in 2017, the Central Bank of Nigeria (CBN) had approved some funds under the Commercial Agriculture Credit Scheme (CACs) for disbursement to four states, including Ekiti; Osun; Oyo and Abia.

“Somehow, the immediate past administration of Governor Ajimobi chose to delay access to that money until April 2019, when the governorship election of 2019 election had been won and lost.


“That government intended to expend the said money on the purchase of ‘agriculture equipment’ in less than two months to the end of its tenure. Allowing access to that money within a month of Ajimobi’s exit could only be counter-productive for the people of Oyo State.”

Makinde explained that he decided to set the record straight based on observed certain misinformation, misconception and outright mischief in the interpretations being given to the N7.6 billion agriculture loan, which the state government on Thursday October 10, 2019 secured the nod of the state House of Assembly to access.

He said the government had equally noticed the deliberate misconceptions and misinformation on the loan facility, saying that it was an attempt to colour the truth to confuse the unsuspecting public.

The statement maintained that the administration of former Governor Ajimobi had obtained the said loan from the CBN and that Governor Makinde, had, in the interest of Oyo State, prevented the past government from squandering the loan at the twilight of the administration.

The statement read in part: “The misconceptions and misinformation that Governor Makinde was going for a loan of N7.6 billion is a deliberate attempt to colour the truth and it is an indication of a political move by certain commentators who are exhibiting apparent amnesia on the matter.

“Governor Makinde is not seeking for a fresh loan. The action that was taken by the House of Assembly of Oyo State on Thursday was to give the legislative nod to the state government to access the fund that had already been domiciled with the government since the days of ex-Governor Ajimobi.

“The governor’s decision to approach the House of Assembly was a mark of his belief in due process, the rule of law and its processes. Ordinarily, some state executives would just have proceeded to spend the funds since it was already in the coffers of the state, but Governor Makinde won’t do that.”

According to the statement, the two farm settlements are to be built into Farm Estates in line with the vision of the Makinde administration to ensure the full utilisation of the agriculture value chain for economic expansion and to boost of Internally Generated Revenue (IGR).



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