UBA Face Criminal Charges Over Osun LG Funds; GMD, Legal Adviser Cited in 31-Count Suit

The Osun State Government has escalated its legal battle over the control of grassroots finances, instituting a 31-count criminal charge against United Bank for Africa (UBA) Plc and three of its highest-ranking executives. 

The charges follow allegations of an illegal conspiracy to bypass statutory financial protocols and operate local government accounts with "unknown private individuals" as signatories, in direct defiance of new state laws.

The state has named the following individuals as defendants in Charge No: MOS/601c/2025 includes United Bank for Africa (UBA) Plc; Mr. Oliver Alawuba, Group Managing Director (GMD); Mr. Billy Odum, Group Legal Adviser and Mr. Chukwuma Nweke, Deputy Managing Director

According to court documents filed on December 29, 2025, the prosecution alleges that on or about December 9, 2025, UBA officials conspired to open and maintain statutory accounts for the state’s 30 Local Government Councils without lawful authority.

The crux of the criminal suit lies in the bank allegedly allowing "private individuals" who were not legally authorized signatories to operate the accounts. This occurred despite the Local Government Service Commission formally introducing the Directors of Administration and General Services and Directors of Finance as the only recognized signatories.

Local Government Accounts Administration Law, 2025

The prosecution is predicated on the Osun State Local Government Accounts Administration Law, 2025, which was passed by the State Assembly on December 5, 2025, prohibits political officeholders from being signatories to council accounts.

 Specifies that any entity (including banks) that maintains accounts contrary to these provisions is guilty of an offense punishable by up to five years imprisonment or significant fines.