The Osun State Government has raised a serious alarm over an alleged plot involving the Central Bank of Nigeria (CBN) and the Office of the Accountant-General of the Federation concerning the disbursement of Local Government funds meant for the state.
In a statement issued on Wednesday, June 18, 2025, by the Commissioner for Local Government and Chieftaincy Affairs, Dosu Babatunde, the state alleged that the plot appears to be a calculated move to undermine pending legal actions currently before the Supreme Court of Nigeria.
Babatunde disclosed that intelligence available to the state government suggests both federal institutions have finalized plans to illegally divert Osun’s Local Government allocations into private accounts operated by individuals impersonating government officials.
He described the move as a flagrant breach of Nigeria’s public finance laws and called on President Bola Ahmed Tinubu to urgently intervene to prevent what he termed a constitutional violation aimed at looting public funds under the guise of official transactions.
“As a responsible government, we find it deeply troubling and unacceptable that two federal agencies would contemplate paying public funds into private accounts. This is a clear and direct violation of established financial regulations,” the statement read.
According to Babatunde, the state government, upon learning of the suspicious plans, promptly acted through the Office of the Auditor-General for Local Governments by formally introducing the legitimate accounting officers, including the Heads of Local Government Administrations (HLAs) and Directors of Finance, of all 30 local government areas to the CBN.
However, he expressed shock that the Osogbo branch of the CBN rejected the list and allegedly proceeded to channel LG allocations to private accounts linked to associates of former Governor Gboyega Oyetola, without the authorization of the recognized accounting officers.
“With all sense of duty, we are bringing this disturbing development to the attention of President Bola Ahmed Tinubu, as we strongly believe that such illegal activities are being executed without his knowledge or the consent of the Honourable Minister of Finance,” Babatunde said.
The Osun State Government issued a firm warning that any funds paid into unauthorized private accounts will not be recognized as official LG allocations and vowed to take all lawful actions to correct the anomaly and ensure accountability.
“We must reiterate that any money deposited into private accounts cannot and will not be considered legitimate Local Government funds. Anyone involved in this scheme will face the full force of the law,” the statement concluded.
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