A Chieftain of the All Progressives Congress (APC) in Osun State, Adebayo Adedeji, has chided the Osun State Government and the Peoples Democratic Party ( PDP) in the state for accusing the former Governor Adegboyega Oyetola of selling the Omoluabi Bank ( now Living Trust Mortgage Bank Limited) to private investors.Adebayo Adedeji insisted the said shares were sold during the administration of ex-Governor Rauf Aregbesola when Dr Wale Bolorunduro was the Commissioner for Finance in the state.
According to Adedeji, “in 2013, the government of Aregbesola went to the Nigerian Stock Exchange in order to increase the company’s share capital to the tune of N2.5bn to meet the CBN’s requirement for mortgage banking.”
He added that Morgan Capital Securities Limited and UniCapital Limited obtained 38.9% and 21% equity stake respectively in the company, while both the state government and the 30 local government councils retained 39.9%.
“The shareholding structure of 39.9% for the state government and the local government councils was not tampered with throughout the 4-year tenure of Oyetola. So from where did the lie that Oyetola sold Osun shares to private investors come,” he queried.
Aregbesola and Bolorunduro were advised to address the Osun public and explain to them what transpired in the controversial transaction.
A group had alleged former Governor Adegboyega Oyetola of selling Omoluabi Bank ( now Living Trust Mortgage Bank Limited) to private investors.
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