Okpebholo Alerts EFCC, Banks Against Last-Minute Loans To Obaseki

The Governor-Elect of Edo State, Senator Monday Okpebholo, has issued a strong warning to banks and financial institutions, cautioning them against granting last-minute loans or financial instruments to the outgoing administration led by Governor Godwin Obaseki.

In a statement released on Wednesday night, Okpebholo raised concerns that such loans and financial deals granted the Obaseki government could threaten the fiscal stability of the state, leaving the incoming government saddled with significant debt.

Okpebholo emphasized the importance of responsible loans, urging financial institutions to be mindful of the long-term consequences of their deals with Obaseki. He stressed the need for transparency and accountability, noting that the welfare of Edo State’s citizens should be prioritized during the transition of power.

In his statement, the Governor-elect also alleged widespread looting of government funds and properties by officials of the outgoing administration. With less than a month until the transition, Okpebholo expressed grave concern over reports of state assets being pillaged, including government vehicles, furniture, office equipment, and even palliatives such as rice. He described these actions as a blatant disregard for the rule of law and called on anti-graft agencies to step in immediately.

“It is shocking and saddening to hear reports of massive looting from Government House, Benin City, with barely a month to the handover. The outgoing administration is still reportedly taking out shady loans from banks under questionable circumstances,” Okpebholo said.

He added, “We are aware of the widespread vandalism and theft of state properties, from vehicles and household items to government office equipment. Such behavior is unacceptable and erodes public trust in leadership.”

The Governor-elect called on the Economic and Financial Crimes Commission (EFCC), the Nigerian Police, and the Department of State Services (DSS) to urgently investigate these claims and ensure those responsible are held accountable. He also urged these agencies to protect government facilities from further vandalism.

Issuing a stern warning to banks and financial institutions, Okpebholo advised them to refrain from engaging in any financial dealings that could undermine the state’s finances during this critical period. He also urged the Accountant General of Edo State to act with integrity, noting that any involvement in financial misconduct would carry serious consequences.

Okpebholo reassured citizens that his incoming administration would continue to monitor the situation closely, stating his zero-tolerance for corruption. He vowed not to condone any unethical behavior and promised swift action against any form of financial impropriety during the transition period.
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