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EX-OSUN COMMISSIONER ARRESTED OVER N60M LOAN DEAL

By NBF News
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By GBENGA OLARINOYE
OSOGBO-Osun State Police Command, Tuesday, arrested and detained former Commissioner for Finance and Economic Development under Prince Olagunsoye Oyinlola's administration in the state, Elder Moses Adetoyese Ojo over a loan of N60 million he unilaterally guaranteed a revenue consultant in a bank while in office.

It was learnt that a team of detectives from the State Criminal Investigation Department, SCID, swooped on the former commissioner in his country home in Erin Osun after he allegedly failed to honour several invitations to him by the state Ministry of Justice to explain his roles in the loan transactions.

It was further gathered that the N60 million loan he guaranteed for a farm in July 2008 had risen to N130 million this year due to accumulated interests on the loan.

According to the documents made available to our correspondent in Osogbo, the loan which was secured in a first generation bank attracted the attention of the former governor of the state, Prince Oyinlola when the bank confronted him with documents that the loan taken two years earlier has accumulated to N85 million.

When contacted on the arrest of the former commissioner, the state Police Commissioner, Mr. Olusegun Solomon confirmed the development, but failed to make further comments, saying that investigations into the matter are ongoing.