Oyo Assembly Passes Contingency Trust Fund Bill Into Law

The Oyo State House of Assembly has passed the bill to establish Oyo State Contingency Trust Fund Management bill into law.

The bill which was passed on the floor of the house on Tuesday, is to setup an agency to manage urgent or unforeseen expenditure of the government.
According to the Speaker of the House, Rt. Hon. Adebo Ogundoyin, the proposed law is in response to the recent crowd funding and donations made towards the COVID-19 pandemic for the State.

He said, “Learning from situations is an admirable quality of people working towards the development of the State and its people.

“Aside from health, COVID-19 pandemic has also given us obvious reasons to put in place financial and administrative structures for Oyo State to manage fund meant for such emergencies better.
“This administration considered the need to enact a law that would allow government to monitor and manage all such funds made for contingencies situation in the State to ensure effectiveness and unnecessary bridge of functions.”

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