Financial Scandal Hits Ayobo-Ipaja LCDA

A major financial controversy has emerged in the Ayobo-Ipaja Local Council Development Area (LCDA) of Lagos, following the unauthorized withdrawal of N7,157,742 from the council’s bank account in a single day.

This alarming incident comes at a time when the council chairman, Bola Shobowale, is dealing with significant health issues, which have hindered her ability to manage the council’s activities.

The withdrawals took place on November 7, 2024, and were executed without Shobowale’s consent or signature. Documents reviewed by PM News indicate that funds were taken from the council’s Access Bank account through multiple transactions, including a notable withdrawal of N5,964,102.96.

Details of these transactions show a sequence of withdrawals executed on the same day: starting with N1,141,140, followed by N52,500, and culminating in the enormous final amount, raising serious concerns about the council’s financial oversight.

Allegations of forged signatures have emerged, highlighting significant lapses in governance and financial security within the council.

The ongoing situation is particularly troubling as Shobowale’s extended illness has left a noticeable absence in leadership, which critics argue has allowed for potential exploitation of the council’s operations.

Insiders suggest that the lack of established procedures for leadership succession or delegation during such crises may have facilitated the fraudulent activities.

One source familiar with the situation mentioned, “The chairman’s signature appears to have been forged for these transactions,” underscoring the need for stringent protocols to maintain operational integrity in times of leadership absence.

The unfolding events have called for immediate demands for transparency and accountability within the Ayobo-Ipaja LCDA, as community members seek assurance and a swift response to restore confidence in the council’s management.

View the withdrawal receipts below:

RECEIPT