By Noah Nobet
Economic and Financial Crimes Commission, Ibadan Zonal Office had been out on alert following about N135 billion expended by the Senator Ademola Adeleke administration in the outgoing year 2024 that could not be accounted for.
The missing amount was said to be excess revenue made by the government in the year winding down in few hours that has been spent outside the budget.
Part of the missing amount include money realised from Segilola Mining Company paid by the organisation after government got to know that it has been short-changed through handling of its shares in the company.
Also, huge amount realised from the federation account through many interventions of the Federal Government to cushion effects of the petrol subsidy removal, it was also learnt, made Adeleke administration to exceed its revenue projections for the year.
Rather than keep to its actual budget of about N273 billion for the year, the government, kept spending extral funds it did not envisage in its budget, but received, to the chagrin of many stakeholders in the state.
A source in the Ministry of Finance, who craved anonymity, but confided in this medium said the governor ignored all expert advice about handling of the state resources.
“Adeleke and his men, rather than listen to expert opinions, kept digging hands in the state treasury. They turned the extra funds that they didn’t expect but got to bazaar and they kept taking out money outside the budget.
“They were told to prepare a budget and take to the State House of Assembly if they want to spend out of extra funds they received from multiple sources. But that advice was ignored and Adeleke and his men kept taking money.
“How that got leaked to an Oyo-State based Civil Society Organisation, no one could say. That CSO had written to the State Government asking it provide details of how it spent N135 billion revenue it didn’t expect but got in 2024.
“The CSO has also written to EFCC, Ibadan Zonal Office intimating it of the development regarding extral budgetary spending by the Adeleke administration, demanding probe. There is panic in the system and no one knows who will be arrested among those in charge of state finances,” the source concluded.
