Oyo Youth Group Urges EFCC Probe of N300bn Loan Approval

The Concerned Youths Movement (CYM), a civic group advocating good governance in Oyo State, has called on the Economic and Financial Crimes Commission (EFCC) to investigate the circumstances surrounding the approval of a ₦300 billion loan for Governor Seyi Makinde.

Last week, reports emerged that the Oyo State House of Assembly had approved the governor’s request for a ₦300bn loan.

The announcement was made by Ibraheem Shittu, member representing Saki West State Constituency. However, the approval has since sparked criticism and controversy.

In a statement signed by its chairman, Pastor Tayo Adigun, and secretary, Alhaji Olaide Kobomoje, CYM argued that:

• Only 13 out of 32 lawmakers approved the loan.

• The number falls short of a quorum, making the approval illegal and void.

• The decision does not reflect the will of the Assembly’s majority.

“We are hereby calling the attention of the EFCC to investigate the alleged approval given to the Oyo State Governor, Engr. Seyi Makinde, to obtain ₦300 billion by the 13 members of the State House of Assembly. That is illegal. Thirteen members do not form a quorum in a 32-member House,” CYM stated.

The group insisted that the EFCC must investigate the loan clearance process to ensure transparency and accountability.

The loan, if confirmed, represents one of the largest financial approvals in Oyo State’s history. Allegations of procedural irregularities raise concerns about legislative oversight, governance standards, and financial accountability.