Oyo faults Alao-Akala’s govt over 300 bank accounts

The Oyo State Commissioner for Finance, Mr. Zacheus Adelabu, on Wednesday said former governor Adebayo Alao-Akala ran an accounting system that cost the state several millions of naira.

Adelabu said this while addressing journalists on efforts being made by the government to beef up its revenue base.

He stated that on assumption of office, the Governor Abiola Ajimobi-led administration closed all the 168 bank accounts operated by the former administration and consolidated them into a few.

The Commissioner said through this exercise the government saved about N7bn.

He said, “We met 168 accounts when we came on board and another 150 in ministries. Now, how can such accounts be well coordinated?

“We had to close those accounts leaving only one in each bank. We realised N7bn from the exercise. It also closed several loopholes through which individuals and organisations may steal government’s money.”

The commissioner also faulted the advice by the Governor of Central Bank of Nigeria, Lamido Sanusi, that government should sack 50 per cent of its workforce to be able to embark on capital projects.

Adelabu said the government had a social contract with the governed and that government was not primarily existing for profit purposes.

According to him, the need to generate more revenue informed government’s decision to partner with the private sector.

He said, “Government exists for the welfare of the people. That is why people’s plight plays a central role in our decisions in Oyo State. Rather than sack half of the workforce, government should seek other means of cutting cost and shore up its revenue to be able to deliver on its electoral promises.”