Osun APC Accuses Adeleke of Concealing State Finances, Alleges Secret ₦42bn Loan

The Osun State All Progressives Congress (APC) Governorship Campaign Council has accused Governor Ademola Adeleke’s administration of violating the state’s Fiscal Responsibility Law by allegedly withholding key financial reports and concealing the true state of Osun’s finances.

Speaking on behalf of the council, Engr. Oluremi Omowaiye, Head of the Media and Publicity Committee, alleged that the government had failed to publish the First Quarter (Q1) 2026 Budget Implementation Report and the state’s 2025 audited financial statements as required by law, describing the development as a serious breach of transparency and accountability.

According to the APC, Section 46 of the Osun State Fiscal Responsibility Law, 2012, requires the government to publish a summary of budget implementation within 30 days after the end of each quarter, adding that the Q1 report should have been released by the end of April 2026.

The opposition party argued that the continued delay, more than three months after the statutory deadline, had raised concerns over the management of the state’s finances and fueled public speculation about possible attempts to shield financial records from scrutiny.

The council also claimed that the Adeleke administration had failed to publish the state’s audited accounts for the 2025 financial year, alleging that this contravenes Section 45(1) of the Fiscal Responsibility Law, which mandates the publication of audited accounts within six months after the end of the financial year.

The APC further alleged that the non-publication of the reports had prevented residents from knowing the actual status of the state’s internally generated revenue, federal allocations, recurrent and capital expenditures, as well as other financial transactions.

The party also alleged that the state government had secretly obtained commercial loans of about ₦7 billion monthly since the beginning of the year, amounting to approximately ₦42 billion, claiming the funds were being stockpiled ahead of the forthcoming governorship election.

It further referenced the recent detention of the state’s Accountant-General, Rasheed Olalere Alabi, and the Chief of Staff to the Governor, Kazeem Akinleye, by the EFCC over alleged financial transactions, insisting that the government should clear public doubts by releasing the outstanding financial reports.

The APC called on civil society organisations, professional bodies, the media and other stakeholders to demand immediate compliance with the Fiscal Responsibility Law, urging the Adeleke administration to publish the outstanding financial documents without further delay.

As of the time of filing this report, the Osun State Government had not responded to the allegations made by the opposition party.