Categories
World News

‘DEVIL’ TEMPTATION: Redeemed Pastor Allegedly Embezzles Estate’s Multi Million Projects Money.

Pastor Adewale Olajide of the Redeemed Christian Church of God was allegedly tempted by the devil to  embezzle money belonging to an Estate which  landed him into  serious financial mess.

It was gathered that the cleric was not the only person the ‘devil’ purportedly misled as some of his former executives were linked and accused of embezzling the association’s development funds to the tune of about N60m. Hence the association now wants them to vomit all the money traced to his bank account with the other executives.

The alleged embezzlement of funds has thrown the once peaceful estate into serious crisis as landlords, stakeholders blamed the saga on three former executive officers of the estate association namely Pastor Olajide, Barrister Olufemi Owoeye as Secretary and Financial Secretary, Taiwo Akinmolayan.

The missing funds were part of the statutory levies comprising security charges, electricity bills, and annual development contributions paid by landlords into the estate’s account between 2010 and 2018.
The whole thing got exposed when there was need for out-of-court settlement levies, which all property owners in the estate were compelled to pay to settle land vendors known as Omo-Onile.

In 2016, the residents woke up to the invasion of Omo-Onile from the Habeeb Kasumu Family, who claimed rightful ownership of the estate’s lands and threatened to take possession and demolish properties in the estate.
There was a settlement arrangement; those who have completed their houses and had long moved in were asked to pay N300,000 each; N500,000 for those whose houses were still being developed; and N700,000 each for those who were yet to take full possession of their land.
It was learnt that out of the 120 houses in the estate, 63 landlords complied with the full payment and the money was not fully paid to Omo-nile hence the invasion. The three ex-officials, who were signatories to the association’s accounts namely Chairman, (Pastor) Secretary, (Lawyer) and Financial Secretary, a certified accountant and member of the Institute of Chartered Accountants of Nigeria, ICAN, were accused of masterminding the fraud.
 

An audit was set up and after the auditing of the estate’s account, conducted by Messrs Aderopo Oladejo & Co, a shortfall of N11.4m was discovered in the process, contrary to the claim of the three executives including N900,000 Ratification Levy, Utilization Fund” amounting to N18.3m meant for road construction and interlocking pavement and other funds were not accounted for.

Findings revealed on the 26th of October 2016 that, N1million was withdrawn by Pastor Olajide and Mr. Akinmolayan, for “unapproved and unknown purposes”,  N2million was given to Mr. Owoeye, the former Secretary, who was also a signatory to the account.

However, Owoeye  refunded the said money on the 28th of December, 2018.

The document also showed that the sum of N5million was remitted to the accounts of two corporate organizations namely, Living Links Ventures and KLX Kings Ventures, by Mr. Olajide and Mr. Akinmolayan. The decision was taken without the members’ approval. The two companies were allegedly owned by the disbursers.