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N11.5bn FRAUD: Alao-Akala re-arraigned in court

IBADAN — FORMER Governor of Oyo State, Otunba Adebayo Alao-Akala and two others were, yesterday, re-arraigned by the Economic and Financial Crimes Commission, EFCC, before an Oyo State High Court, in Ibadan over alleged N11.5bn fraud.

Adebayo Alao-Akala

Other defendants are a former Oyo State Commissioner for Local Government and Chieftaincy Matters, Senator Hosea Agboola; and an Ibadan-based businessman, Femi Babalola.

The defendants are facing 11 counts bordering on conspiracy, awarding a contract without budgetary provision, obtaining by false pretence, acquiring property with money derived from an illegal act and concealing the ownership of such property, among others.

EFCC’s counsel, Dr. B. Ubi, told the court that when Alao-Akala was the governor of Oyo State, he awarded a road contract worth N8.5bn between 2007 and 2009 to Pentagon Engineering Services.

Ubi alleged that the firm, owned by Babalola, handled the contract on behalf of the 33 local governments without budgetary provision.

The counsel further claimed that Alao-Akala ordered the supply of drilling machines on behalf of the 33 local governments in the state to the tune of N3.5bn.

He also alleged that Alao-Akala conspired with Ayoola to withdraw N2.9bn from Oyo State Local Government Joint Account.


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