N7.2 Million Financial Scandal Rocks Ayobo Ipaja LCDA As Chair Battles Ill Health

By Akinwale Kasali

For months, the Chairman of Ayobo Ipaja Local Council Development Area, LCDA, Bola Shobowale, has been battling  health challenges, which has left her incapable of overseeing the day to day affairs of the Council.

However, a shocking financial scandal has engulfed the LCDA. A sum of N7,157,742 (Seven Million, One Hundred and Fifty Seven Thousand, Seven Hundred and Forty Two Naira Only), has, allegedly, fraudulently been withdrawn from the Council’s account in a single day.

Investigations revealed that the said sum was withdrawn from the Council’s account without the authorization and signature of Shobowale. This has  sent shock waves to observers, Council members and members of the general public.

Documents obtained revealed that the funds were siphoned on 7th November, 2024, from the Council’s account with Access Bank.

Receipt details of the brazen transactions is as follows: N1,141,140 was withdrawn first, followed by N52,500, and another N5,964,102.96—all on the same day.

The withdrawals which were, allegedly, facilitated through forged signatures,  have raised serious questions about accountability and the integrity of financial operations within the Council.

The scandal unfolds against the backdrop of Shobowale’s prolonged illness, which has left a leadership vacuum in the LCDA.

It was revealed that Shobowale’s absence and her failure to handover to her Vice led to a vacuum, for which some persons zeroed in for exploitation.

Observers are of the opinion that the lack of a clear succession or delegation during Shobowale’s illness may have contributed to the fraudulent activities, and also emboldened unscrupulous actors to exploit her absence to further destabilise the already embattled administration.

Sources in the Council stated that the Chairman’s signature appears to have been forged for the transactions.

“This situation highlights a systemic failure to establish protocols that ensure seamless operations in her absence”, the source disclosed.

“The lack of transparency, accountability and leadership has further led to fraudulent activities in the Council.”