A major political storm has erupted between two South-West heavyweights as former Ekiti State Governor, Ayodele Fayose, publicly challenged Oyo State Governor, Seyi Makinde, to refund N30 billion in Federal Government intervention funds.
Fayose’s demand follows Makinde’s recent admission that the state received the staggering sum as an intervention for the January 16, 2024, Bodija explosion victims—funds Fayose claims were kept hidden from the public until he “blew the whistle.”
In a scathing statement released on Thursday through his spokesperson, Femi Philips, Fayose accused the Oyo State Governor of lack of transparency and “playing politics” with the lives of disaster victims. He argued that if the money has not been utilized for its intended purpose, it should be returned to the federal coffers immediately.
“Since Governor Makinde has now said that he kept the N30 billion he admitted to have received in a bank since 2024, Oyo State Government should return the money to the Federal Government so it can be used for the people for which the money was meant,” Fayose declared.
He further suggested that the federal authorities are better equipped to handle the distribution if the state leadership is unwilling to act: “After all, the Federal Government has mechanisms to reach victims of the explosion since their Governor has chosen to play politics with their welfare.”i
Fayose, known for his direct approach, took the argument a step further by calculating the potential interest accrued on the funds during the 18 months they allegedly sat in a bank account.
He insisted that the refund must include the interest generated to ensure the public isn’t shortchanged: “N30 billion in a bank for 18 months would have generated at least, N4.5 billion at 10 percent interest.”
Flowing from this logic, he maintained that the Oyo State Government now owes more than the initial principal: “Therefore, Governor Makinde must return not less than N34.5 billion to the Federal Government.”
The former Ekiti Governor claimed his intervention was necessary to expose what he described as the “hypocrisy” of the Makinde administration. He alleged that Makinde purposefully concealed the N50 billion total request and the subsequent N30 billion approval while criticizing the Federal Government on other fronts.
“If he hadn’t go on national television to disclose what happened in a meeting with the President, and concealed the fact that he requested for N50 billion intervention fund for the explosion victims from the President, and the request was granted, there wouldn’t have been any reason to talk,” the statement read.
Fayose concluded with a stern warning, framing his stance as a defense of regional integrity and a check on political ego:
“But you can’t tell the public what favours you about a meeting and keep the ones that should favour the other parties.As a Yoruba man we will not allow you to destroy the President’s name and image because of inordinate Presidential ambition.”
As of Thursday evening, the Oyo State Government has yet to issue a formal rebuttal to Fayose’s financial calculations or the demand for a refund.
