Governor-Elect of Edo State, Senator Monday Okpebholo, has issued a stern warning to banks and other financial institutions regarding the granting of last-minute loans and financial instruments to the outgoing administration in the state.
He expressed concerns that such financial maneuvers could potentially undermine the fiscal stability of Edo State and burden the incoming government with unmanageable debts.
Senator Okpebholo emphasized the importance of responsible lending practices, urging financial institutions to consider the long-term implications of their actions.
He called for transparency and accountability in financial dealings, highlighting the need for a smooth transition of power that prioritizes the welfare of the state’s citizens.
In a statement issued Wednesday night in Abuja, Senator Okpebholo alleged that, with less than a month remaining before the transition of power, there are alarming reports of massive looting of government funds and properties by certain state officials.
He expressed grave concern over these actions, which he described as a blatant disregard for the rule of law and the welfare of the citizens.
Senator Okpebholo urged security and anti-graft agencies to take immediate action to investigate these allegations and put a stop to this troubling trend.
The Governor-elect accused the outgoing Governor Godwin Obaseki-led administration of taking unscrupulous loans from banks and other financial institutions while some unnamed government officials were also feasting on properties including vehicles, furniture and palliatives such as rice.
Okpebholo in the statement said; “With great shock, we regret the widespread reports of looting of government funds and properties by officials of the out-going administration from the Government House, Benin City.
“It is sad that barely one month to handover, the out-going administration of Governor Godwin Obaseki is still allegedly obtaining loans from banks and other financial institutions under very shady headings.
“We are also aware of the massive looting and vandalism of properties including vehicles, furniture, gadgets, household utensils and even carpets from offices and residences of Edo state Government.
“This unacceptable behaviour undermines the trust and faith of our citizens in those entrusted to serve them in the past eight years.”
The governor-elect consequently called on the Economic and Financial Crimes Commission EFCC, Police and Department of State Services DSS “to investigate the allegations thoroughly and ensure that those found guilty are held accountable while protecting the Government House and offices from vandals.”
Sounding a note of warning, the statement added that “banks and other financial institutions are by this notice, cautioned to desist from any dealings that will undermine the finances of the state, especially giving out of loans to government at this period of transition.
“The Accountant General of Edo state, is hereby advised to uphold the principle of integrity in his duty, as the only act that will put his name in gold. There will be dire consequences for any act of impunity and stealing on any person or institution found wanting in this regard.”
Okpebholo, however added that the incoming administration will continue to monitor the situation until the last day of the out-going administration, adding that he will not condone any form of unethical behaviour and stressed zero-tolerance for corruption.
