The Ogun State Government has denied that it owes Bond Investments and Holdings Limited $11,740,362.00, as consultancy fees, on ‘external debt and multilateral loans.

The government said it had no legal contract with the firm.

The consulting firm had accused the state government of breaching the agreement between them after facilitating the payment of external debt and multilateral loans from the Federal Government.

In a statement signed by the Commissioner for Finance, Mr Wale Oshinowo, the state government accused the company, believed to be owned by Hon. Bode Mustapha, “of plotting to rip off the state, upon the inauguration of Mustapha’s political ally, Prince Dapo Abiodun, on May 29, 2019.”

The government said it was aware that the targets of the claims by the consultancy firm were the N126bn refund for federal roads constructed by the Amosun administration which it said was due for payment and the $350m World Bank concessionary loan, negotiated by its government .

It therefore warned the indigenes to be on their guard as regards the finances of the state, saying, “some unconscionable politicians will do everything possible to recoup their investment in the last governorship election from the public till.