Group urges EFCC to probe Oyo Assembly over N300bn loan approval

By Adejayan Gbenga –

A civil society group, Concerned Youths Movement (CYM), has called on the Economic and Financial Crimes Commission (EFCC) to investigate the Oyo State House of Assembly over its recent approval of a N300 billion loan request by Governor Seyi Makinde.

The loan approval, which surfaced last week, has continued to generate heated debate across the state, with critics questioning the circumstances surrounding the endorsement of the facility.

In a statement signed by its Chairman, Pastor Tayo Adigun, and Secretary, Alhaji Olaide Kobomoje, CYM alleged that due process was not followed in granting the approval.

The group claimed that only 13 lawmakers out of the 32-member House consented to the loan request, a figure it said fell short of the quorum required for such a critical decision.

“The alleged approval of N300 billion for the governor by only 13 lawmakers is illegal, null, and void,” the statement read. “Thirteen members do not form a quorum in a 32-member House, and as such, the decision does not reflect the will of the majority.”

CYM described the development as an “illegality that must not be allowed to stand” and urged the EFCC to thoroughly investigate what it termed an “emergency approval” of the controversial loan.

The approval has sparked widespread criticism among residents and political observers, with concerns raised over the potential implications for the state’s finances.