The protesters accused UBA of complicity, alleging that the funds domiciled with the bank were being handled in a politically influenced manner.
Residents of Osun State have stormed branches of United Bank for Africa (UBA) Plc in Osogbo and Ilesa to protest what they described as the unjust withholding of local government funds.
The protesters accused UBA of complicity, alleging that the funds domiciled with the bank were being handled in a politically influenced manner.
One of the protesters at the Osogbo branch, a trader, said residents could no longer endure the consequences of the delayed release of the local government funds or the bank’s handling of the situation.
“We are traders in Osun State and we can barely feed three times a day. If civil servants have their money stuck in the bank, how would they pay and patronise us who sell goods well? Everyone is feeling the impact,” the resident said.
Another protester said they have been pushed to the wall.
“We have been pushed to the wall and we can no longer take it. What is being done is unfair. Imagine what we have to go through daily due to the continued impasse,” the protester said.
The protesters said they had come to close their accounts with UBA due to its alleged role in the stalemate. They emphasised that, despite not being politicians, they are directly affected by the dispute.
“With what’s happening currently, we have decided to come here and close our accounts with the UBA given their role in the non-release of N230 billion state funds. We are not politicians. They should release the money held and resolve this issue,” one of the protesters said.
“We appeal to our father Bola Tinubu to weigh into the situation and put an end to the situation faced in Osun State. He should help us in the state,” one of them said.
SaharaReporters had earlier reported on the protracted dispute over the management of Osun State local government funds domiciled with UBA. The report also noted that Governor Ademola Adeleke was scheduled to meet with President Bola Tinubu in a bid to seek a political resolution to the lingering impasse.
Sources told SaharaReporters that attention had shifted to the anticipated meeting between Adeleke and Tinubu, amid growing concern over the fate of the disputed funds.
The recent development comes following reports that UBA Chairman, Tony Elumelu, was recently questioned by President Tinubu over the disbursement of Osun State local government funds held by the bank.
According to insider accounts, Elumelu recently met with Tinubu at the Presidential Villa. Although the official agenda of the meeting was not disclosed, sources said discussions centred on the status and management of the Osun local government funds domiciled with UBA.
The meeting was reportedly convened at the instance of the President, with controversies surrounding the handling and disbursement of the funds forming a major part of the discussions.
A source told SaharaReporters that the development followed “various reports of mismanagement of the said fund, as well as court actions restraining the bank from further accessing or disbursing the funds until the matter before the court is resolved.”
