Twenty-four hours after, Abiodun Fadeyi, deputy speaker of the Oyo State House of Assembly, has confirmed story by OYOINSIGHT.COM that they met, behind closed door, to approve a loan request by the Seyi Makinde administration.
This newspaper had Saturday exclusively reported how less than 13 members, without the knowledge of some of lawmakers in the 32-member assembly members, hurriedly sat to approve the 100 billion naira bond.
OYOINSIGHT.COM understands that the 32-member assembly is peopled by 6 All Progressives Congress, APC and 26 Peoples Democratic Party, PDP, members.
OYOINSIGHT.COM, relying on credible sources, had reported how Speaker Adebo Ogundoyin and less than 13 other lawmakers secretly sat in the hallowed chambers ‘without microphone and noise’ to approve the bond yesterday.
”It was hurriedly done. The microphones were not switched on. Nobody was allowed to enter as other entrances were manned. I doubt if their other colleagues, especially the All Progressives Congress, APC, lawmakers, were aware. It was the speaker and his loyalists,” another source, who preferred to remain anonymous, had told this newspaper.
Fadeyi, who spoke on Crossfire, a weekly programme anchored by Mayor Isaac Brown on Fresh 105.9 FM, explained that the lawmakers met to revalidate the already approved bond but did not disclose reasons for the revalidation and why it had to be hurriedly done on a Friday.
OYOINSIGHT.COM understands that the assembly sits on Tuesdays and Thursday, and times on Wednesday depending on the urgency of the matters to be discussed.
This newspaper reconfirmed from sources, who still preferred to remain anonymous, that the initial members present at Friday’s sitting were not up to 10 until some of them sighted that the mace was being moved into the plenary that they decided to follow them.
However, Fadeyi explained that that “Let me start by correcting the impression that 13 members sat. We had over 20 members who sat that day to do our constitutional job. Where the 13 members come from is not known to me and we didn’t pass it hurriedly.”
Asked why they needed to revalidate an already loan request which they had approved in July 2020, Fadeyi, who represents Ona Ara state constituency, said that “What happened was a mere revalidation of the bond. It is the same bond. In acquiring a loan or overdraft, it’s a process. Part of the process was to have a resolution of the parliament before the bond can be approved, in doing that, they came to back submit some other things that were not there before.
“So they came back to the house to revalidate what had been approved before. That was what happened.
“Terms of the process was inclusive. At the point of negotiation, things may come up. What I know for sure is that the interest rate is in a single digit which is good for the state. There is nothing wrong. It is the parliament’s duty. There was a time the 7th assembly had to sit on a Sunday to address the issue of subsidy. There is nothing to hide with the meeting,” Fadeyi stated when asked were the changes done to the request.
This newspaper recalls that the Seyi Makinde administration had initially sought a N7.6 billion naira to finance Akufo and Eruwa farm settlements in 2019 and another N22. 5billion infrastructure loan last year. Also in December 2021, the assembly had approved a N2 billion loan request by Makinde for the Oyo State Ministry of Agriculture and Rural Development which is part of the plan of the state Government to develop the Agricultural sector.
