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Home»Business»Finance»Ondo Gov Aiyedatiwa running N240bn ‘secret’ bond, group alleges
Finance

Ondo Gov Aiyedatiwa running N240bn ‘secret’ bond, group alleges

Daily News HubBy Daily News HubAugust 22, 2025No Comments
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…claims ‘we have evidence individuals in govt collect N12bn kickback monthly from bond’

. Information commissioner dismisses group as faceless, not serious

A civil society organisation, the Ondo Redemption Front, on Thursday, accused the Ondo State Government of lacking transparency and accountability, particularly over its controversial N240 billion bond.

ORF said there is no public visibility of the bond in terms of its conditions, utilisation and current status, accusing Governor Lucky Aiyedatiwa’s administration of financial secrecy.

The group at a press conference in Akure, the state capital, claimed that it is in possession of documents and evidence indicating that some individuals within the government have been receiving monthly N12 billion kickbacks from the “secret” bond.

ORF Chairman, Ayodeji Ologun, who was flanked by the co-Chairman, Kayode Mogbojuri, and Secretary, Adedotun Ajulo, challenged Aiyedatiwa and his Commissioner for Finance to come clean over the controversial bond.

Ologun, who stressed that the integrity of the state is at stake, urged the Ondo State House of Assembly to promptly initiate a transparent investigation, warning that continued “silence will only confirm suspicion.”

He added, “The matter of the N240 billion bond issuance and the allegations of N12 billion monthly kickbacks. These are not ordinary whispers in the marketplace.

“The credibility of the issuance of a bond is its visibility. We have it on a very strong note that there have been monthly kickbacks of N12 billion being generated from this bond going to private pockets of one or two persons.”

But in a swift response, the Ondo State Commissioner for Information and Orientation, Idowu Ajanaku, described the group as faceless and their false allegations shouldn’t be taken seriously.

Also, another group, Ondo Good Governance Alliance maintained that all financial records of the state are open, audited, and verifiable, stressing that the allegations are baseless.

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