The Osun State chapter of the Peoples Democratic Party (PDP) has issued a strong warning to the former Commissioner for Finance and current Managing Director of the National Inland Waterways Authority (NIWA), Asiwaju Bola Oyebamiji, urging him to own up to his alleged involvement in the controversial sale of Omoluabi shares to a company reportedly identified by the Economic and Financial Crimes Commission (EFCC) as a Ponzi scheme.
In a statement released by the party’s Council on Public Communications and signed in Osogbo, the PDP accused Oyebamiji of attempting to shift the blame for the sale to his predecessor, Dr. Wale Bolorunduro, despite having allegedly authorized the transaction himself in 2019.
“The attempt by Oyebamiji to rewrite history and deny his documented role is a failed strategy,” the statement read. “We have in our possession the letter he personally signed, authorizing the sale of the state’s shares through Alpha Morgan. When we release this document at the appropriate time, Osun people will understand the depth of the deception.”
The party alleged that the proceeds from the sale were diverted to an unnamed agency instead of being remitted into the state treasury, thereby violating state finance laws as signed under former Governor Gboyega Oyetola.
“We urge Oyebamiji to stop his denials and accept responsibility. His continued attempt to shift blame has only further implicated him.
Dr. Bolorunduro is a clean man, and his removal was engineered because he had facts and figures detailing how the Ponzi scheme exploited Osun’s assets,” the statement added.
Meanwhile, Oyebamiji, through his media team — AMBO Media Front (AMF) — has denied the allegations. In a statement signed by AMF Coordinator, Adebayo Adedeji, the former commissioner described the PDP’s claims as “false and misleading.”
Adedeji stated that Oyebamiji had no role in the divestment of Osun State’s shares in LivingTrust Mortgage Bank (formerly Omoluabi Bank), claiming the transaction occurred in 2013, before Oyebamiji assumed office as Commissioner for Finance.
“Matter-of-factly, the divestment of Osun’s shares occurred in 2013 when Dr. Wale Bolorunduro — now reportedly a financial adviser to Governor Ademola Adeleke — was in office,” the statement said.
