The Osun State House of Assembly has said the balance of the bailout given to the state government to be N3.352 million while the local government council is N173,226million and not N3.362 billion.

The Chairman, House of Assembly Committee on Information and Strategies, Mr. Olatubosun Oyintiloye, said this in a statement issued on Friday.

He said the figure reported in some newspapers was an error while stating that the balance of the fund given to the local government council is N173,226 million and it is domiciled with Zenith Bank. He added that the balance of the bailout to the the state is N2.040 million which is at First Bank and N1.312 million in Wema Bank.

According to him, these figures were given by the Accountant-General of the state, Mr. Akintayo Kolawole, when he appeared before the House of Assembly to give an account of how the bailout was utilised.

Oyintiloye said representatives of the banks, present during the probe are: Adebayo Yakub (First Bank), Musbau Oyeniran (Wema Bank) and Ola Adedeji (Zenith Bank). These bank officials corroborated the figure given by the accountant general.

He stated that the Chairman of the Nigeria Labour Congress, Jacob Adekomi; Chairman, Joint Negotiation Council, Adebayo Adejumo and other labour leaders were present at the probe and they corroborated the figure given by the accountant general.

He said, ” The balance of the bailout given to the state is N2.040 million which is at First Bank and N1.312 million in Wema Bank. The bailout to the local government remains N173,226 millions The figure reported was a mistake and the error is regretted.”