By Erewunmi Peace

The All Progressives Congress (APC) in Osun State has accused Governor Ademola Adeleke of planning to secure a ₦300 billion loan allegedly using the state’s local government councils as collateral.

The allegation was made by the Osun APC leadership, which claimed that the proposed loan arrangement could expose the state’s local government system to financial risks. According to the party, the alleged plan involves securing the loan from Unity Bank Plc, with each of the state’s 30 local government councils reportedly tied to about ₦10 billion under the arrangement.

The opposition party expressed concern over what it described as a potentially dangerous financial move, urging stakeholders and residents of the state to demand transparency regarding the alleged borrowing plan.

The APC also called on relevant authorities to investigate the matter, warning that using local government allocations or assets as collateral for loans could negatively affect grassroots development and financial stability.

However, the Osun State Government has not officially confirmed the claim at the time of this report. Observers say further clarification from the state government will be necessary to address the concerns raised by the opposition party.

Political analysts note that allegations and counter-allegations between ruling parties and opposition groups are common in Nigeria’s political landscape, especially ahead of major political developments.

The development has sparked discussions among residents and political observers about transparency, fiscal responsibility, and the management of public funds in the state.