A group, Osun Itesiwaju Alliance (OIA) has submitted that a recent development has gotten Governnor Ademola Adeleke vindicated in respect of his stance on the running of the affairs of the Living Trust Mortgage Bank Plc.
The group in a statement issued in Osogbo and made available to Team@orientactualmags.com by its Chairman, Mr Paul Oderinu and Secretary, Mr Iwaloye Sulaiman noted that the Cititrust Holding PLC getting declared as an illegal company alongside 57 others by the Economic and Financial Crimes Commission (EFCC) has justified the position maintained by the governor in respect of getting the Living Trust Mortgage Bank Plc repositioned.
While commending the governor for taking proactive measures to protect the interest of the state, the group also emphasized the need for the people of the state to continue to support conscientious leaders.
‘Alhaji Adebayo Jimoh, a former group Managing Director of Oodua Investment Company Ltd, had while in charge of the Living Trust Mortgage Bank Plc supervised the sale of its shares to Cititrust Holdings Plc in 2019,
Citi Trust Holdings Plc owns 41% ownership of the financial institution while Osun State government owns 40% ownership, the remaining 19 % is owned by diverse individuals with no single person having up to 10 % ownership.
Also, based on the shareholders’ agreement, Citi Trust Holdings Plc produces the Managing Director, while the state government nominates the chairman.
On April 8, 2024, Governor Ademola Adeleke approved the appointment of Dr. Wale Bolorunduro as chairman of the Living Trust Mortgage Bank Plc and his letter of appointment as LTMB Chairman was signed by the Secretary to the State Government, Hon. Teslim Igbalaye, yet efforts were made to frustrate him from taking over as head of the financial institution..
It was through resoluteness of the governor that he eventually took charge of affairs of the company.
With the new status that Citi Trust Holdings Plc has just earned courtesy of the anti-graft agency, what happens to the decision taken in 2019? What is the future of our Living Trust Mortgage Bank Plc: These are germane questions that require answers.
We urge Dr Wale Bolunrunduro not to get distracted but rather remain focus on his mission to reposition the financial institution’ the statement added-Team@orientactualmags.com Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com. Thank you
