CYM Urge EFCC To Investigate N300 Billion Loan

The Concerned Youths Movement (CYM) has called on the Economic and Financial Crimes Commission (EFCC) to investigate an alleged approval for a N300 billion loan approved by the Oyo State House of Assembly.

According to the group, the House did not form a quorum to approve the loan for the Governor Seyi Makinde-led administration.

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The non-governmental association stated that with this in mind, the approval had become illegal, null and void, and didn’t represent the wish of the majority of the Assembly.

The CYM in a release issued on Monday, signed by Pastor Tayo Adigun and Alhaji Olaide Kobomoje, Chairman and Secretary respectively, said only 13 lawmakers out of the 32 members approved the loan.

Urging the EFCC to beam its search light on the approval, CYM maintains that the House comprises 32 members, adding that 13 members who approved the loan didn’t form a quorum, and thus, the approval is null and void and of no effect in the face of the law.

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It would be recalled that the member representing Saki West State Constituency in the Oyo State House of Assembly, Hon. Shittu Ibrahim, had revealed recently how the state legislature approved a new N300 billion loan for the Governor Seyi Makinde-led administration during an emergency sitting.

The lawmaker, in a post on his Facebook page, criticized the hasty arrangement through which the loan was approved, stressing that the House is currently on recess and not all members were present at the sitting. He added that he was not among the lawmakers who approved the loan of N300 billion for Makinde’s administration.