We Did Not Receive N8 Billion LAUTECH Refund

We Did Not Receive N8 Billion LAUTECH Refund – Governor Adeleke

Reported by Ayooluwa Afolabi

The Osun State Governor, Ademola Adeleke has said his administration did not receive any Eight Billion Naira as a refund for Ladoke Akintola University of Technology (LAUTECH) from the Oyo State government.

Governor Adeleke revealed this in a statement from his spokesperson, Olawale Rasheed, on Tuesday in Osogbo, Oyo News reported.

Through his spokesperson, Adeleke claimed that the administration of former Governor Adegboyega Oyetola received three billion, five hundred million naira and spent almost two billion naira from the fund before leaving office.

LAUTECH, co-owned by both states, became a point of disagreement leading to the separation of assets.

The misunderstanding, which began under the Olagunsoye Oyinlola administration, came to a head during the Oyetola administration.

The statement said, “Contrary to the fake news, the Oyetola administration actually received a payment of three billion, five hundred million naira from the Oyo State government as part of the LAUTECH settlement payment before leaving office.

“To put it more directly, the sum of three billion, five hundred million naira (N3,500,000,000) was received during the last administration.

“The credit balance stood at one billion, five hundred and sixty-two million, four hundred and forty thousand, four hundred and thirty-six naira (N1,562,440,436.80) as of November 30, 2022. This means that the sum of N1,937,559,563.20 was expended during the last administration.

“From November 2022 to date, the Adeleke administration has received only five hundred million naira on the LAUTECH refund since assuming office.

“When added to the N3.5 billion paid by the Oyo government during the Oyetola administration, a total of four billion naira has so far been received from the Oyo State government by the Osun State government.

“The state has spent part of the fund on ongoing infrastructure upgrade projects across various sectors of the state economy.”

As a transparent administration, all inherited and newly generated funds are properly managed by the state financial managers while state expenditures are drawn from the state accounts as stipulated in the Appropriation Act.

Report of an alleged Eight Billion Naira (N8B) payment on the LAUTECH settlement is therefore fake news from an opposition that has lost all its credibility and electability.

While calling on members of the public to ignore the report, Adeleke reiterated his commitment to transparency, accountability, and anti-corruption practices in the management of state resources.