The Oyo State chapter of the Road Transport Employers Association of Nigeria (RTEAN) has petitioned the police over alleged fraudulent activities, criminal conversion and the disappearance of N105 million involving two former officials of the association.
The petition named Adegoke Babatunde Oloyede, a former Financial Secretary, and Adeyemi Idowu Olusola, a former Secretary of the association, as the individuals allegedly involved in the financial transactions.
Oyo RTEAN N105 Million Fraud Allegations
According to the petition, which was submitted through lawyers representing the Oyo State chapter of RTEAN, the two former officials allegedly received N105 million from a candidate contesting for political office in Oyo State.
The funds were reportedly intended for the purchase of tricycles for members of the association.
The petition, signed by Adenike A. Rufai, Babatunde Rufai and Adekunle M. Rufai of Rufai and Rufai & Co, alleged that the money was received without authorisation from the association’s chairman and other executive members.
The petition further alleged that only N17 million was declared to RTEAN, leaving N88 million allegedly unaccounted for.
The association also alleged that preliminary investigations uncovered other instances in which the two former officials collected various sums from members for the purchase of motorcycles but allegedly failed to properly account for the funds.
RTEAN, through its legal representatives, urged the police to conduct a comprehensive investigation into the allegations.
The association also requested the recovery of any funds that investigators establish were unlawfully received, diverted or converted in the name of RTEAN.
Amid the Oyo RTEAN N105 million fraud allegations, the association has issued a disclaimer concerning the two former officials.
RTEAN warned members of the public against conducting transactions with Oloyede and Olusola on behalf of the association.
The association stated that the two individuals had been relieved of their positions as Financial Secretary and Secretary and should no longer be regarded as authorised representatives of RTEAN in those capacities.
The two former officials were reportedly invited for questioning on Monday at the Oyo State Police Headquarters in Eleyele, Ibadan, as investigations into the allegations commenced.
RTEAN’s petition requested that police investigators examine the alleged financial transactions and other activities involving the former officials.
The allegations contained in the petition have yet to be established by a court, and the investigation is expected to determine the facts surrounding the alleged N105 million transaction and other financial claims.
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