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How we’ll recover, spend looted funds in Oyo – Makinde

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Governor Seyi Makinde of Oyo State has wooed banks’ executives  to assist the government in ensuring that  all looted funds in the state were recovered and used for the overall development of the state.

He also vowed to recovered every bit of looted funds in the state, while such recovered loot should be kept in a special bank account for the use of the state.

The governor made this revelation while playing host to the management of the Unity Bank Plc at Agodi governor’s office.

According to him, the account will be made open to everybody to avoid the recovered money being looted again.”

“We want to recover the money in a very transparent manner and for people to see what the present administration has done with the money recovered.

”People should know how money belonging to them is being spent. The state money seized from individuals by EFCC will be returned to the account,” he said.

Makinde had on assumption of office discovered N1.2 billion being state money seized from a certain government official.

He had since approached the EFCC to refund same to the state government; to support his administrative drive to reposition the alleged comatose education sector.

While assuring that the state’s account with the bank would be used to save the looted money recovered from ‘wrong hands and accounts’, the governor charged the bank to also hold the state accountable because the government should not compromise the trust reposed in it by the people.

He said that his administration was ready to foster a partnership with bankers, processors, agriculture and business experts to develop the state.

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”Agriculture is one of the pillars that this administration rested on and that is the tool that is intended to be used to expand the economy, Making said.

He assured the bank management that the government would not discriminate against it because it was not among the first big banks but would give equal opportunity to all partners of the government.

Earlier, Mrs. Toyin Somefun, the Managing Director of the bank said that the purpose of the visit was to request for partnership with the new administration under Makinde.

Somefun said the bank wanted to partner with the state in the area of infrastructure, education, and agriculture where it had significant milestones.

She said that the bank was number one in Anchored Borrower Scheme, with the Central Bank of Nigeria, “with an exposure of over N60 billion intervention fund with CBN.”

Somefun said that the bank had financed more than 500 farmers across various commodities such as rice, wheat, cotton, soya, and ginger.

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