AKURE — A civil society organisation, Ondo Redemption Front (ORF), has accused the Ondo State Government of operating under a veil of financial secrecy, particularly over a controversial ₦240 billion bond allegedly shrouded in irregularities.
At a press briefing in Akure on Thursday, ORF alleged that Governor Lucky Aiyedatiwa’s administration has failed to provide transparency on the bond’s conditions, utilisation, and current status. The group claimed it has obtained documents suggesting that some government officials are pocketing ₦12 billion monthly kickbacks from the transaction.
ORF Chairman, Ayodeji Ologun, flanked by Co-chairman Kayode Mogbojuri and Secretary Adedotun Ajulo, challenged Governor Aiyedatiwa and his Commissioner for Finance to “come out clean” on the deal, warning that silence would only deepen public suspicion.
“The matter of the ₦240 billion bond issuance and the allegations of ₦12 billion monthly kickbacks are not ordinary whispers in the marketplace,” Ologun declared. “The credibility of any bond issuance lies in its visibility. We have it on a very strong note that these monthly kickbacks are going into private pockets of one or two individuals.”
The group further urged the Ondo State House of Assembly to launch a transparent investigation, stressing that the integrity of the state’s finances was at stake.
However, the government swiftly dismissed the claims. Commissioner for Information and Orientation, Idowu Ajanakun, described ORF as a “faceless group,” while the Ondo Good Governance Alliance insisted that all state financial records remain open, audited, and verifiable, branding the allegations as baseless.
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