Oyo State government has uncovered a pension fraud totalling N2.68 billion in its Local Government Pension Board. The amount represented the figure so far established in an ongoing investigation of withdrawal of state funds between September 2010 and March 2011, the build-up period to the last general election.
The chairman of the state Local Government Service Commission, Chief Lasisi Ayankojo, said the executive secretary of the board, Mr Aderemi Muili and the director (finance and administration) Mrs Iyabo Giwa, separately withdrew N1,353,868,000 of the looted fund. Other individuals, who allegedly frittered away pension funds, included B.N. Oguntayo; A.J. Adedun-tan; J.A Adesina.