Osun Recovers N10bn Property From Individuals

Some properties belonging to Osun State worth over N10 billion have been legally recovered from individuals by Omoluwabi Holdings, while moribund  government businesses have been  resuscitated under Adeleke’s administration.

The managing director and chief executive officer of Omoluabi Holdings Limited, Mr Taofiq Alimi, who disclosed this yesterday on ‘News Point’, a personality interview programme of the Correspondents’ Chapel of the  Osun State chapter of the Nigeria Union of Journalists (NUJ), said the measure became imperative to put the company on a sound footing.

His words, “When we came the investment was in terrible state, the water company was down, salaries were being owed, Some properties were being held by some people and not paying anything to the company or government, the first duty was to get everything back on track, businesses that have gone has been recovered, those down are resuscitated, we thank God we are getting there.

“What we have recovered in the past two and a half years is above N10 billion. We reclaimed our properties from those individuals who were  holding on to them.

We told them that they belong to Osun State. It should be for the benefit of the Osun people, not for any individual or group.

Alimi, who revealed plans to create a legal framework to protect investments from political interference and policy reversals, assured investors that their investments in the company are safe.

According to him, the legal framework will prevent interference, even in the event of a change of government, adding that the lack of such a framework had affected the company in the past.

He assured Osun residents that the long-abandoned state-owned drug pharmaceutical company will soon return to full operation.

Alimi disclosed that arrangements had been concluded with investors who are ready to partner with the Osun State Government to revive the moribund pharmaceutical company.