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The Economic and Financial Crimes Comimission (EFCC) has arrested a syndicate of fraudsters implicated in the stealing of N1.7 billion pension funds. The funds, according to a statement by the spokesman of the commission, were meant for retirees of Oyo State Primary schools.
The commission said that the 17 fraudsters were arrested separately by detectives. According to the commission, principal suspects involved in the scam are: Muili Hakeem Aderemi, former Executive Secretary, Oyo State Local Government Pension Board and Iyabo Giwa- former Treasurer, Oyo State Local Government Pension Board.
Others are Adeshina Jimoh Ayoade, former Cashier, Oyo State Local Government Pension Board; Oguntayo Banji, former Internal Auditor, Oyo State Local Government Pension Board and Adebiyi Olasunbo Musendiq, former Administrative Officer, Oyo State Local Government Pension Board.
The rest are: Muili Adedamola; Salewa Adedeji; Kareem Rasheed; Johnson Bosede; Adeduntan Johnson; Olomide Olaide; Oyebamiji Akinlolu; Adewale Kehinde; Saka. M. Ikeola; Oluokun Funmilayo; Oyetunji Taiwo and Olujimi Philip Adebayo.
The commission said investigations showed that all the pension offices in the 33 local governments in Oyo State were affected by the scam.
The commission said: “The Pension Board received a total sum of N4, 140,020,501.72 from both the Federation Account and the Oyo State Government between September 2010 and February 2011.
“Out of this amount, a total cash withdrawal of N1.711, 894, 667.05 was fraudulently made by the suspects.
“Items recovered from the suspects include buildings, poultry farms, power generating sets and undeveloped plots of land. The suspects will be charged to court as soon as investigations are concluded.”
