Assembly leaders allege that banks and APC-appointed council chairmen authorized improper fund withdrawals from local government allocations, with former Governor Adegboyega Oyetola reportedly connected to the transactions. The APC chairmen have rejected these accusations, characterizing them as baseless and driven by partisan interests.
According to Egbedun, the disbursements included “N25m to each of the 30 local government chairmen, N12m to each vice chairman, N10m to each of the 332 APC councillors, N130m distributed among selected traditional rulers, and N13bn in legal fees representing 15% of deposited funds.”
Egbedun cautioned banks against processing local government fund releases based on instructions from unauthorized parties.