Oyo state is technically bankrupt – Makinde laments

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Governor Seyi Makinde has lamented that Oyo State is currently experiencing a technical bankruptcy due to funds that have been siphoned.

The governor made the disclosure on Tuesday while he received in audience the Governing Council of the University of Ibadan, led by the Pro-Chancellor of the institution and Chairman of Council, Dr. Waklek Mutka, on a courtesy visit to his office at the Governor’s Office, Secretariat, Ibadan.

According to the governor: “When I came in, we were looking for ways to keep the government running because technically the government of Oyo State is bankrupt.”

“If I take it as a private entity, I won’t lend a dime to the government of Oyo State.

 I will ask them to start winding up proceedings. So, we have been looking for ways to keep the government running.”

“We have been beaming our searchlight on areas we can get money. The Bureau of Internal Revenue came to me and said they had issue of PAYE with the University of Ibadan.”

“And at the Governor’s Forum, I saw a document where a lot of the states got huge refund from PAYE due to the federal institutions located in such states. I believe Ogun State got about N8 billion; another state in the South West got N10 billion; and Oyo state got only about N91 million.”

 “Then, I wondered what was going on here. They told me that there was work in progress and that they had been talking and did not have cooperation from the University of Ibadan.”

 “I can give you the assurance that this is something for the Federal Government to refund to us. All we need to do here is open the books and see what has gone on and have an agreement.

 I told the Chairman of Bereau of Internal Revenue that himself and myself will come and meet with the University of Ibadan to get money.”

“We will utilize such money immediately to do things that will lift our environment,” the governor assured.

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