A former Managing Director of the Ogun State Property Investment Corporation (OPIC), Babajide Odusolu, is set to sue the Ogun State Assembly over allegations that over N2.5billion were unaccounted for during his tenure.
Tribune Online reports that the state assembly had last Friday invited the Economic Financial Crimes Commission (EFCC) to probe the former special adviser to ex-Governor Ibikunle Amosun over the missing funds.
The assembly made the resolution after its Committee on Public Accounts and Anti-Corruption submitted a report which stated that N2,579,771,717.71, were unaccounted for under Odusolu’s watch.
Odusolu was also asked to pay back N40m that was allegedly unaccounted for in the year 2019 into the state government’s purse within six months.
It will also be recalled that Odusolu appeared before the House Committee on Public Accounts and Anti-Corruption in 2020 during a probe of the financial reports of the corporation between 2015 and 2019.
Flanked by a team of lawyers led by Adedoyin Adeniyi Adetunji of the Ebun-Olu Adegboruwa and Co, Odusolu told newsmen on Tuesday that he had appeared before the committee and cleared himself of all the alleged financial infractions.
He further described the allegations as colossal damage to his personality and reputation, adding that the resolutions of the assembly are purely a “political vendetta without evidence.”
While noting that he has nothing to hide, Odusolu demanded an independent forensic audit of the corporation in the last ten years. He further described the assembly members as those “lacking accounting and auditing knowledge.”
He said: “The Assembly has arrogated to itself the role of judge and jury and passed judgment without having adequate knowledge and information.
“I don’t think this is something that I should allow to go because if I allow it to go, not only will it destroy all the good works that have been done to build Ogun State, it will scare other professionals from ever volunteering to serve.
“My successor said no money was missing. There is no money missing in OPIC. I challenge the management of OPIC, the Ogun State Government, and the assembly to provide evidence that money is missing or that my principal, Sen. Ibikunle Amosun diverted the money.
“The accounting processes, policies, and standards are predefined and this allegation is false in its entirety. No money is missing and a formal forensic audit will confirm that fact.”
He further said the N40 million said to be missing was part of the fund expended to manage OPIC projects located in several satellite towns in the state, adding that the N881.5 million unbudgeted expenditure said to be misappropriated was expended on the construction of Mission to Rebuild Ogun State (MITROS) residences.
He also noted that the residences were constructed after the state executive committee approved it in 2017.
“We explained that these monies were used to provide cash stipends for staff and artisans working on those sites; provide basic site amenities and cover other ongoing site expenses. This imprest system allowed the men at the site to work without undue delay. The DFA and Director of Projects subsequently provided the breakdown of the N40 Million expenditure which the committee chose to totally ignore in its report,” he said.
Also speaking at the event, the lawyer, Adeniyi, said the procedure adopted before making such resolutions would be challenged in the court of the law.
Adeniyi said Odusolu ought to have been “called into that proceeding,” alleging that his constitutional rights to fair hearing have been breached.
“We are not going to go into facts of the issue or the matter. We are going to challenge the procedure adopted by the House of Assembly of Ogun State. We sincerely believe that our client’s constitutional right to a fair hearing has been grossly breached.
“We have been reliably informed by our client that he has not been served with any report purportedly indicting him. He was not even called into the proceeding where the resolution was passed on Friday.
“In this regard, we will be definitely approaching the court to challenge the manner and procedure adopted by the State House of Assembly. And if the court, by the grace of God, agrees with us, we will be asking for colossal damages,” Adeniyi said.
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