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Ogun state government denies receipt of refund of N37billion roads project from federal government

The Ogun State government has denied receipt of N37billion from the Federal Government, as reimbursement of expenses on road projects carried out by the immediate past administration in the State.

Penpushing reports that, in a statement the government maintained that the said money was processed and received by the immediate past administration as payment for the State government expenses on Federal roads.

The Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo, made the explanation while reacting to some media report which he said was  erroneously reported that the money was paid to the present  administration.

Penpushing further reports that, Okubadejo added  that the last payment on the Federal Government road refund programme was made before the current administration came on board, stressing that all efforts to recover further road refunds from the Federal Government had been an herculean task.

“A total of N37billion was paid to the immediate past administration for  Federal Government road refund to the State, in two tranches of Federal Government  Treasury Note instruments of N15billion and N22billion respectively’, he stated.

‘The first Treasury Note of N15billion issued in December, 2018 was discounted in January, 2019 for N10billion, while the second Treasury Note of N22billion was discounted for N17billion during the first quarter of 2019, thereby resulting in total financial charges of about N10billion  incured by the State”, Okubadejo disclosed.

Penpushing also reports that, the commissioner while noting that the explanation was necessary to put the records straight,  advised journalists to always verify their facts before rushing to publish, maintaining that the incumbent administration is open and transparent, saying this explains why it has always published its Annual Audited Financial Statements, promptly as required.

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