No fewer than 17 officials of the Oyo State government have been arrested by the Economic and Financial Crimes Commission (EFCC) over N1.7 billion fraud.

The EFCC’s Ag.  Head, Media & Publicity,Wilson Uwujaren, said in a statement in Ibadan yesterday that they were implicated in the stealing of N1.7billion pension funds meant for retirees of  Oyo State Primary Schools.  

According to him, the syndicate of fraudsters were arrested separately by  the operatives of the Commission. He said principal suspects involved in the

scam were: Muili Hakeem Aderemi- former Executive Secretary, Oyo State Local

Government Pension Board and Iyabo Giwa- former Treasurer, Oyo State Local

Government Pension Board. Others were Adeshina Jimoh Ayoade- former Cashier,

Oyo State Local Government Pension Board;  Oguntayo

Banji- former Internal Auditor, Oyo State Local Government Pension Board and

Adebiyi Olasunbo Musendiq- former Admin Officer, Oyo State Local Government

Pension Board.

 Others were Muili Adedamola; Salewa Adedeji; Kareem Rasheed; Johnson Bosede; Adeduntan Johnson; Olomide Olaide; Oyebamiji Akinlolu; Adewale Kehinde; Saka. M. Ikeola; Oluokun Funmilayo; Oyetunji Taiwo and Olujimi Philip Adebayo.

 He said investigations by the EFCC showed that all the pension offices in the 33 local governments in Oyo state were affected by the scam, adding that the pension board reportedly received a total sum of N4, 140,020,501.72 from both the Federation account and the Oyo State government between September 2010 and February 2011.

Out of this amount, he added that a total cash withdrawal of N1.711, 894, 667.05 was fraudulently made by the suspects. Items recovered from the suspects include buildings; poultry farms; power generating sets and undeveloped plots of land, saying that the suspects will be charged to court as soon as investigations are concluded.