A former Osun State commissioner for finance Wale Bolorunduro has threatened to file a legal suit against the director-general of the state’s debt management office Tunde Adejumo for misquoting him regarding state funds.
Mr Bolorunduro was commissioner between 2011 and 2014 during the administration of Rauf Aregbesola.
In a statement on Sunday, he said Mr Adejumo failed to disclose loan deductions from state allocations at the inception of Mr Aregbesola’s successor Gboyega Oyetola in 2018 and present deductions for commercial loans restructured into Federal Government’s bond.
Adejumo had in a Friday statement accused Bolorunduro of creating misconceptions by claiming that deferral of the monthly loan repayments on salary bailout and budget support loans obtained by the Aregbesola administration to mean “another windfall for the Oyetola administration,” insisting that Osun’s cash flow presently remained stressed following deductions and the drop in monthly statutory allocations.
Bolorunduro, however, said in his statement: “I am surprised you used the word ‘windfall’. I really don’t know why you have to dissemble on this because I didn’t use this word and nothing can be insinuated like this from the extract of my memoir suggesting the reprieve on the cash flow as windfall?
“How can it be windfall when the revenue has dropped? Please note that I don’t take libel easily and I may have to seek recourse in court of law concerning some of your words.”
He also warned of the implication of making Osun appear insolvent, saying, “Managing an entity that is insolvent or purported to be insolvent, you will require the IFC to do due diligence on it before you can attract funding, even if you have to post private instruments to raise funds.”