Former Commissioner of Commerce, and Empowerment in Osun, Mr Jayeoba Alagbada on Tuesday revealed what has been shrouded in secrecy in the past years by the Osun State government, saying Osun government only owns 14 per cent equity in Omoluabi Garment factory located in Osogbo, the Osun State capital.
According to Alagbada, the acclaimed 14 per cent equity is the portion of land the government made available for siting the factory, which was situated along Gbongan-Osogbo road.
“Our only contribution to the company is land, nothing more,” Alagbada said”.
DAILY POST observed that the Osun State Government by its presentation and body language has created a deceptive impression of state-ownership of the factory.
For instance, the company identity” Omoluabi Garment” is a popular nomenclature used in the state to label state possessions. Like : Omoluabi Micro Finance Bank, Omoluabi School Bus, and a host of others.
Strangely, the government of Osun spent millions of naira on publicity during the commissioning of the company, and often referred to it as one of the achievements of the administration even when the working condition of workers in the company is reportedly the worst in the State.
Also, the Governor, in his long speech during the commissioning of the garment factory, which is truly owns by Sam and Sara, did not mention the stake of the state in the company.
DAILY POST gathered that more than 80 per cent of workers who started with the company at the inception have been laid off, while the remaining ones are working under terrible condition with intimidating outstanding salaries.
Our Correspondent reliably gathered in the course of investigation that the sum of N500m was secretly given to the company on personal relationship between the original owners of the company and Governor Rauf Aregbesola.
The sum was allegedly withdrawn from the Sterling Bank account of the government, the money, being out of the Sukuk bond secured by the Osun State Government to finance road construction.
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