By Hassan Olaiwola
Akure, Ondo State – The Ondo State Oil Producing Areas Development Commission (OSOPADEC) is embroiled in a scandal as leaked documents have surfaced, alleging financial impropriety involving the diversion of N463 million from project accounts to personal accounts, including those of the Commission’s Secretary’s father and two staff members.
Angry workers within OSOPADEC have released incriminating evidence, including a bank statement from the Commission’s capital account, Number 0066933017, at Sterling Bank Limited. This statement, issued and signed by the Head of Branch in Marina, Lagos, on August 2025, reveals significant cash inflows and outflows, raising concerns about the management of funds meant for specific projects.
Among the documents is a query issued by OSOPADEC Chairman Prince Olabiyi Olaleye Poroye, which accuses the Secretary, Mrs. Abike Bayo-Ilawole, of diverting funds to her father’s account and the accounts of two other staff members. The query partly states: “You will recall that on the 9th of July 2025, a memo issued from my office required that your office should give an explanation why funds from the commission’s capital account meant for the execution of specific projects should be paid into individual/private accounts.
”Some amongst them are officers of the commission who are supposed to supervise such projects. However, up till now, you did not deem it fit to formally explain why such financial irregularities that can occasion the suspicion of fraudulent dealings happened under your watch.
“Rather, it was gathered from the blues that the concerned officers and your good self claimed that those were direct labour transactions. As if that had explained away or justified the payment of the funds meant for project execution into private accounts without due process. For the avoidance of doubt , the particular of such expenditures are below“, the query added.
The query details payments to individuals, including:
- Engr. Bunmi Filani: N311,270,527.00
- Engr. Dare Oretan: N141,288,541.43
- Mr. Andrew Kolawole Ikuesan: N10,504,539.87
Total: N463,063,539.82.
Investigations by Starnews NG reveal that Mr. Andrew Kolawole Ikuesan is the father of Mrs. Bayo-Ilawole and is also the same individual as His Royal Majesty Oba Andrew Kolawole Ikuesan, the traditional ruler of Obe-Nla Kingdom in Ilaje Local Government Area.
The allegations have been further complicated by reports of internal power struggles within OSOPADEC. An anonymous director from the commission stated that the accusations stem from individuals unhappy with Prince Poroye’s appointment as chairman by Governor Lucky Aiyedatiwa in June 2025.
The source claimed that a powerful individual at the commission attempted to use a medium (not Starnews NG) to misinform and mislead the public yesterday from knowing the truth about the rot in OSOPADEC before the assumption of office by Poroye.
He added, “Contrary to the report that Poroye authorised N90 million to an unknown beneficiary 48 hours after the signatory change, at no point was any payment concealed, masked, or executed outside approved financial protocols. Any suggestion to the contrary is reckless and demonstrably false. The director explained that the board had adopted an operational organogram to improve efficiency and accountability, along with a restructured signatory framework to facilitate smooth financial operations.
“The names referenced in the payment schedule were not fictitious, as mischievously claimed. They were official names submitted to the Chairman by the Secretary of the Commission upon the assumption of office of the new Board. These names formed part of the transition and operational documents inherited by the Board, which the Chairman approved strictly in line with established procedure. Every action taken thereafter by the Chairman was a direct implementation of collective Board resolutions, not personal discretion.”
The OSOPADEC’s director futher reiterated the commission’s commitment to transparency and accountability, saying “The chairman merely executed decisions made collectively by the board to restore the traditional signatory structure contrary to a sole signatory template fraudulently created before the Chairman assumed office ,” the director stated, emphasising that there was no breach of law or hidden agenda.
The commission saId the scrapped signatory template were part of actions delaying staff salaries by creating operational hurdles, which could provoke unrest among employees. “Since taking office, the new board has prioritised staff welfare, restored confidence in institutional processes, and accelerated approvals for developmental interventions”, the director added.
As the situation unfolds, Starnews NG reports that attempts to reach Mrs. Abike Bayo-Ilawole for comments were unsuccessful, as her phone number was reported to be unreachable as the time of filing the report.
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