Monday, August 17, 2026

Ondo anti-graft agency probes diversion of N800 million OSOPADEC fund

Adewole Adeyeye, the secretary of the anti-graft agency, disclosed that the shares were allegedly spent by former board members of the commission.

• May 6, 2025
Ondo State Oil Producing Areas Development Commission (OSOPADEC)
Ondo State Oil Producing Areas Development Commission (OSOPADEC)

The Ondo State Public Complaints Financial Crimes and Anti-Corruption Commission has launched an immediate investigation into the alleged diversion of N800 million worth of shares in the Ondo State Oil Producing Development Area Commission (OSOPADEC).

Adewole Adeyeye, the secretary of the anti-graft agency, disclosed on Tuesday in Akure that the shares were allegedly spent by former board members of the commission.

Mr Adeyeye failed to name the identity of the past board members but noted that they are currently being probed for their involvement in the malfeasance.

“The shares were diverted and shared by some past board members of the commission to the individual ownership,” he said briefly at an event.

Also, the anti-graft confirmed the case of an environmentalist, Femi Ibikunle, who is being probed for financial racketeering, accused of failing to pay over 200 workers of his company.

The workers, mostly cleaners at the state government-owned University of Medical Sciences (UNIMED), were owed over seven months’ arrears with N12,000 monthly pay.

Mr Adeyeye said the commission got wind of the case through whistleblowers who reported the fraud going on in the company.

While explaining that it would ensure proper investigation, the secretary of the anti-graft said justice would be served to anyone found guilty in the cases.

“So, permit me not to go into details of the cases because we are still going on with our investigation,” he added.

Earlier, two ex-workers of Mr Ibikunle had revealed how they started their jobs as cleaners in the company.

Victoria Iyanuoluwapo and Olamide Alade said they decided to leave the job following the insistence of Mr Ibikunle that he could not pay their salaries.

“And we did not want to take the law into our hands, so we have to report his case,” Ms Alade said.

Last year, the commission’s chairman, Williams Akintoroye, said the anti-graft agency received 36 petitions in the seven months.

Mr Akintoroye revealed that petitions included written and oral complaints and cover cases involving government officials under investigation.

He stressed that all complaints before the commission are properly scrutinised, adding that the commission is fully committed to transparency and impartiality.

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