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Former Ekiti State Governor, Ayo Fayose, has strongly criticized Oyo State Governor Seyi Makinde over the handling of funds allocated to victims of the January 2024 Ibadan explosion, calling for the immediate return of the money to the Federal Government.
According to Fayose, Governor Makinde allegedly admitted that the ₦30 billion relief fund released by the Federal Government to address the aftermath of the deadly explosion has remained untouched in a bank since 2024. Fayose described the development as unacceptable and insensitive to the plight of affected victims who are still struggling to recover from the tragic incident.
In a statement that has since sparked widespread debate, Fayose argued that the money should not have been left idle while victims await compensation, rehabilitation, and reconstruction support. He insisted that if the funds were not utilized for their original purpose, they should be returned immediately.
“Since Governor Makinde has admitted that the ₦30 billion received from the Federal Government following the January 2024 explosion has been kept in a bank since 2024 without being utilized, he should return the funds to the Federal Government so they can benefit the intended victims,” Fayose stated.
The former governor further emphasized the financial implications of keeping such a large sum dormant in a bank account for an extended period. He estimated that with an average 10 percent interest rate, the ₦30 billion would have accrued significant interest over 18 months.
“Kept in a bank for 18 months at an estimated 10% interest rate, the ₦30 billion would have generated at least ₦4.5 billion. Consequently, Governor Makinde should return no less than ₦34.5 billion to the Federal Government,” Fayose added.
Fayose’s comments have reignited public scrutiny over transparency, accountability, and the management of emergency relief funds by state governments. Many Nigerians have taken to social media to demand clarity on how disaster relief funds are handled and why victims of the Ibadan explosion are yet to feel the impact of the federal intervention.
The January 2024 explosion claimed lives, destroyed properties, and displaced several families, prompting the Federal Government to intervene with financial support aimed at rebuilding homes, compensating victims, and restoring livelihoods. Fayose’s demand has now intensified calls for a detailed account of how the funds have been managed.
As public pressure mounts, Nigerians await an official response from the Oyo State Government regarding the allegations and the current status of the ₦30 billion relief fund.
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