Osun LG Allocation Dispute: FG Deposits Funds into Controversial UBA Account

A court document revealed that the Federal Government deposited Osun LG allocations into a controversial UBA (NGX: UBA) account, sparking a legal battle. The funds were transferred to an account in the name of 30 APC Local Government chairmen and councillors.

The Osun State Government challenged this action in court, alleging a breach of the Constitution. The court issued an interim order restraining UBA from releasing the funds.

The lead counsel, Musibau Adetunbi SAN, notified UBA of the court order. The dispute revolves around the allocation of funds meant for the 30 Local Governments in Osun State, highlighting a political and financial controversy.