The Secretary of the Ondo State Oil Producing Areas Development Commission (OSOPADEC), Princess Abike Bayo-Ilawole, is currently under investigation by the Code of Conduct Bureau (CCB) over alleged transfer of N463 million from the commission’s funds into personal and private accounts, including that of her father.
Bayo-Ilawole, who was recently elevated to the position of Permanent Secretary by Governor Lucky Aiyedatiwa, appeared before the CCB in Akure alongside three other officials of the commission following allegations of financial misconduct.
The CCB disclosed that the investigation centres on the alleged movement of public funds into private bank accounts, an action the bureau described as a violation of public service financial regulations.
Responding to the allegations, Bayo-Ilawole denied any wrongdoing, insisting that the funds were legitimately used for projects approved by the state government. She maintained that the money was not diverted or missing, but was released in phases to support project execution.
“The allegation has been misappropriation of fund… about N463 million. To me, I just felt the record will speak for itself,” she said.
Addressing claims that part of the funds was paid into her father’s account, the OSOPADEC Secretary explained that the individual was a contractor handling a long-term project for the commission.
“Like the one they quoted that it was sent to my father’s account, it was a long-term project. The man was a contractor then… but the record will speak for itself,” she added.
She further stated that all projects linked to the funds were completed in line with approved procedures, stressing that the payments were spread over time and not made as a lump sum.
Also speaking on the matter, the Director of Project Planning and Development at OSOPADEC, Engineer Olukorede Adeshina-Oladapo, confirmed that the funds were disbursed for direct labour projects approved by the governor.
He explained that the payments were released in installments to procure materials and pay workers.
According to him, transferring funds into personal accounts for project execution had been a practice within the commission, largely due to operational challenges in oil-producing communities.
However, the Chief Superintendent of the Code of Conduct Bureau in Ondo State, Mrs. R.O. Akingbemila, insisted that paying public funds into personal accounts constitutes a breach of the code of conduct.
“It’s a case of fraud involving the flow of about N463 million into their personal accounts. You don’t send money to a private account from the Commission’s account,” she said.
Akingbemila disclosed that the officials have been directed to submit bank statements and other supporting documents, adding that the bureau will continue its investigation when they return with the required records.
