Osun LG crisis: Residents, traders besiege UBA branches, insist on closing accounts

TUNDE ADELEKE, Osogbo

Some residents and traders in Osun State who are customers of United Bank of Africa (UBA) have stormed the bank’s branches to close their accounts in protest over its refusal to release ₦230 billion in local government funds to the lawful executives.

The action which was embarked on Monday disrupted banking activities at the branches located in the Olohunkoro area of Osogbo as they lamented low patronage due to withholding of the council fund by the bank.

The traders and residents submitted account closure letters stating that the action of the bank has spelt doom for businesses across Osun State.

The letters stated that “The bank is at the center of Osun LGA imbroglio where the amount of about N230 billion Osun money is not made available to Lawfully Elected Local Government Management.

The content of some of the letters stated as follows:

“Recently It was in the news that a Court has issued the arrest warrant of your 4 Top officials, Your bank opened accounts for Local Governments without following laid down procedure as required by Law, what this implies is that your bank can open an account in my name and then hand it over to a third party to operate.

“Retirees in Osun State are not being paid as a result of your action or inaction in disbursement of Local Government Monies to Lawful LGA Management.

With all these above reasons,  we have lost confidence in your bank to keep our monies safe. Please close the account immediately without delay.”

The leader of the traders, Mrs Morenike Abejide, said “Why we market women are here today is because we are tired of the local government impasse in the state.

 We are hungry because UBA is involved in the withholding of local government funds which belongs to us dwellers at the grassroot, the situation has led to gloomy economy activities across the state due to lack of money in circulation.

“We are here to close our bank accounts with UBA due to their involvement in the imbroglio.

We are pleading with President Bola Tinubu to intervene in the situation with a view to resolving it.”

A customer, Mr Ajani Jimoh said “Safety is the ultimate consideration in keeping money with any bank and when that is now strongly in question, the only option left is to withdraw one’s hard earned money.”

“If UBA can throw away core financial practice to enable unlawful hijack of public funds, it remains to be seen whose fund will be safe with them.