Ajimobi gets approval on restructuring existing banks loans

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The Oyo State House of Assembly acting upon a letter signed by Governor Abiola Ajimobi at Tuesday’s sitting, has approved the state government’s request for restructuring of existing state commercial bank loans and action of the Central Bank of Nigeria (CBN) in addressing the issues of arrears of salaries, pensions and gratuities. As contained in the letter read by House Speaker, Honourable Micheal Adeyemo, the request was in government’s bid to honour statutory financial obligations on wages, salaries, pension and gratuities. The letter partly read, “in order to fulfil some requirements arising from the processes involved, it has become imperative to request for the resolutions of the House of Assembly on the restructuring of the state commercial bank loans and other financial and contractual obligations in the FGN bonds and request for CBN’s attention on the state’s request on the arrears of salaries, pensions, and gratuities.”

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