The All Progressives Congress (APC) governorship candidate in Oyo State, Senator Sharafadeen Alli, has warned financial institutions against granting additional loans to the administration of Governor Seyi Makinde.
Alli, who represents Oyo South Senatorial District in the Senate, warned that any financial institution that approved another loan for the state government would be called upon to explain the circumstances surrounding the transaction.
He made the remarks while reacting to reports that Makinde was seeking an additional ₦100 billion loan from a commercial bank.
Makinde is expected to complete his second term as Oyo State governor in May 2027.
In a statement signed by the Director of Alli’s campaign organisation, Bisi Oladele, the APC governorship candidate alleged that the proposed loan, reportedly intended to fund the forthcoming local government election in the state, could amount to a waste of public resources.
Alli urged financial institutions to adhere to established lending standards rather than approve credit facilities simply because the requests came from a sitting governor.
“Financial institutions cannot afford to disregard prudential lending standards merely because a sitting governor is seeking credit facilities,” he said.
The senator maintained that banks must exercise caution when considering further loans for the state government, particularly with the governor’s tenure approaching its end.
