Alli warns banks against granting Makinde fresh loans

All Progressives Congress (APC) governorship candidate in Oyo State, Senator Sharafadeen Alli, has warned financial institutions against granting additional loans to the state government under Governor Seyi Makinde, who is expected to leave office in May 2027.

Alli, who represents Oyo South Senatorial District, said 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 statement while reacting to Makinde’s reported move to secure a fresh ₦100 billion loan from a commercial bank.

The senator argued that banks should exercise caution when considering further credit facilities for the state, given that the governor had about seven months left in office.

In a statement signed by the director of his campaign organisation, Bisi Oladele, Alli alleged that the proposed funds, reportedly intended for the forthcoming local government election in the state, could amount to a waste of public resources.

He maintained that financial institutions should not compromise established lending standards simply because a sitting governor was seeking additional credit.

Alli warned that banks must adhere to prudential lending requirements when assessing the proposed loan, stressing that any institution that proceeded with the transaction could be asked to account for its decision.