Don’t Berate Bakare over N9bn Loan, Ex-Lagos CPC Guber Candidate Tells Nigerians

Kemi Olaitan in Ibadan

The 2011 gubernatorial candidate of the defunct Congress for Progressives Change (CPC) in Lagos state, Ambassador Abayomi Nurain Mumuni, has called on Nigerians to desist from criticizing Pastor Tunde Bakare, for the loan he reportedly took to build his cathedral.

This is just as he described those who had been escalating the matter as enemies of Bakare, who were envious of his successes.

Bakare who is the General Overseer of Citadel Global Community Church, formerly known as Latter Rain Assembly, was reported in the media to be swimming in a debt of N9 billion which he allegedly collected from WEMA Bank.

But Mumuni, in a statement made available to to journalists, said those behind the circulation of the news were Bakare’s adversaries who were not only envious of his successes but want to embarrass him, stating that there is no crime in collecting loan, especially for business purposes.

The former CPC gubernatorial candidate added that the former Vice Presidential candidate of the defunct CPC had something tangible and worthwhile to show for the loan.

According to him, “I have read with great disappointment the needless and unnecessary dragging of Pastor Tunde Bakare on social media over a loan he took from banks to build cathedral, a combination of worship and business edifices.

“It is a common practice that individuals and cooperate bodies, even multinationals get loans from financial institutions that come with terms, including method of payment.

“What could have been the issue of concern is if it’s established that he doesn’t want to pay his loan, but it’s in public domain that he has started paying back the loan he reportedly took from five banks, which I believe will get to the turn of WEMA Bank.

“To my knowledge, WEMA Bank should be the household name for the Yoruba people. They shouldn’t allow speculators use them to tarnish the reputation of Pastor Bakare. Many citizens of our country had bankrupted several institutions in Nigeria with records of unrecovered fraudulent loans called bad debt in proxy. The Pastor Bakare acclaimed loans represent the edifices on ground to show for it.

“Even several countries in the world, including the US have debt with the World Bank. The US loan is huge. Even the Nigerian government before this dispensation rode on loans, likewise this present administration. We should be mindful of our utterances, especially the so called political jobbers.

“What I am trying to say is that people take loans for business and other projects without public or social media trial. It should not be an issue once you are able to repay the loan.

“Is he the only person owing? Why him? We live in the same country where people masquerade around without any family inheritance, but possessing multiple private jets without verifiable source, only through loans. But this is a man who has built an edifice, section of it for worship and another section for commercial purpose, which could have generated the money borrowed if not for COVID-19 pandemic.

“It is in the public domain that he took loans from five banks to build the cathedral. The process is very transparent and as a matter of fact, as far back as October, he revealed that he had started paying some of the banks”.