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N7.2 Million Disappears from Ayobo-Ipaja LCDA Amid Chairman’s Health Crisis

Ayobo-Ipaja Local Council Development Area (LCDA) in Lagos State is in the spotlight following the disappearance of N7,157,742 from the council’s account in a single day. The funds were allegedly withdrawn through forged signatures, sparking questions about accountability and proper financial management.

The fraudulent activities took place on November 7, 2024, while the council’s chairman, Bola Shobowale, was battling serious health challenges. Documents show that the funds were withdrawn from the council’s Access Bank account in three transactions:

  • N1,141,140
  • N52,500
  • N5,964,102.96

The transactions reportedly occurred without the chairman’s approval or signature, raising alarms about the integrity of the council’s financial system.

Shobowale’s illness has left the LCDA without strong leadership, creating an environment ripe for exploitation. Critics believe the absence of a clear delegation system allowed unscrupulous individuals to take advantage of the situation.

Sources within the council have noted that the leadership vacuum made it easy for fraudulent actions to go unchecked. The lack of a proper succession plan further deepened the problem, leaving the council vulnerable.

The revelation has caused outrage among residents and stakeholders, who are calling for transparency and swift action to restore trust in the council’s management. Many are demanding a full investigation and proper accountability to ensure such incidents don’t happen again.

As investigations continue, the focus is now on implementing measures to strengthen financial controls and leadership structures within Ayobo-Ipaja LCDA. This scandal highlights the urgent need for clear protocols to manage council operations during leadership crises.

“The chairman’s signature appears to have been forged for these transactions,” a source familiar with the council’s affairs disclosed. “This situation highlights a systemic failure to establish protocols that ensure seamless operations in her absence.”

For residents and stakeholders, the hope is that this incident will serve as a wake-up call, leading to reforms that promote accountability and protect public funds.

See screenshots of the withdrawals below;

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