AKURE, NIGERIA — The ₦16.6 billion Ajagba–Akotogbo–Ijuosun road project in Irele Local Government Area of Ondo State has become the subject of a petition to the Economic and Financial Crimes Commission over alleged financial irregularities and disputed project funding.
The 28-kilometre road has reportedly remained largely abandoned, with residents citing potholes, erosion and overgrown sections as major obstacles to movement between communities along the route.
Starnews NG obtained copies of a petition dated 19 May 2026 and correspondence relating to an invitation issued by the EFCC. The allegations contained in the petition have not been established by any court, and the EFCC has not announced any prosecution arising from the matter.
According to the petition by Barrister Morayo Lebi of Morayo Lebi & Co., the Ondo State Government awarded the road contract for ₦16.6 billion after discussions concerning the condition of the road.
The petition alleges that 15 per cent of the agreed 30 per cent advance payment was paid into a project account with Sterling Bank Plc. It states that Barrister Lebi was the sole signatory to the account and that approximately ₦900 million was subsequently transferred to project partners for the commencement of construction activities.
The petitioner further alleged that assessments by the state government’s consultants, Messrs Eminard, and the Ministry of Infrastructure put the completed work at less than two per cent. According to the petition, some of the work included in that assessment had allegedly been carried out with the petitioner’s personal funds before the contract was formally awarded.
The petition also stated that a ₦500 million facility was obtained from Parallex Bank Ltd, with future contract payments domiciled with the bank for loan repayment. However, the petitioner alleged that a subsequent payment of ₦1,291,927,913.14 was transferred to a separate account at Sterling Bank’s Akure branch without his approval.
He further alleged that he stopped receiving debit alerts and that ₦1,009,638,665.70 was subsequently misappropriated. Starnews was unable to independently verify the alleged movement of the funds or establish liability on the part of any individual named in the petition as at the time of writing this story.
EFCC invites person named in petition
The petition requested the EFCC to investigate three people connected with the project and the disputed banking transactions. A letter obtained by Starnews shows that the EFCC’s Lagos Zonal Directorate 2 invited Ajimati Shola for an interview in connection with an alleged case of conspiracy and criminal diversion of funds.
The letter, referenced CR:3000/EFCC/LS2/BFS/TA/23-26/VOL.2/19 and dated 22 May 2026, requested the invitee to report to the Head of the Bank Fraud Section at the EFCC office in Ikoyi, Lagos, on 2 June 2026.
The correspondence was signed by Ace I. Bawa Usman Altungo, identified in the letter as the Acting Director of the Lagos Zonal Directorate 2. Starnews understands that similar invitations may have been issued to Mr Deji Olayiwola, described in the petition as a project associate, and Funmilayo Lebi, identified as a Sterling Bank official at the Akure branch.
Although it is not clear whether the EFCC has concluded its investigation or filed charges against anyone in connection with the matter. Starnews NG reports on Saturday that the present condition of the road has continued to deteriorate with residents, farmers, traders and traditional leaders in the communities lamenting the terrible conditions everyday.
Residents said sections of the road have been affected by erosion and poor drainage, making movement difficult, particularly during the rainy season. The condition of the road has also raised concerns about access to markets, farms, schools and health facilities.
Starnews is making efforts to obtain an official response from the Ondo State Ministry of Infrastructure and other relevant parties regarding the project’s funding, current status and the allegations contained in the petition. Claims that nearly ₦5 billion may have been released to the contractors by the Ondo State Government in various funding cycles could not be independently verified as of Saturday. Starnews is therefore unable to present the figure as established fact.
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