Dare Babalola
Osun State Government has filed a 31-count charge against United Bank for Africa (UBA) Plc and four of its top officials, including Group Managing Director, Mr. Oliver Alawuba, over alleged illegal opening of local government accounts.
Other defendants in the suit are: the Company Secretary and Group Legal Adviser, Mr Billy Odum and the Deputy Managing Director, Mr Chukwuma Nweke.
The charges were filed on December 28, 2025, at the Chief Magistrate Court of Osun State, Osogbo, and are marked Charge No: MOS/601c/2025.
The defendants are accused of conspiring to commit a felony by opening, operating, and maintaining what the state government describes as illegal Osun State Local Government Council accounts.
Specifically, they are alleged to have allowed unknown private individuals to operate accounts for each of the 30 local government councils, despite the Local Government Service Commission introducing authorized signatories to the accounts.
The alleged offense occurred within the Osogbo Magisterial District and is said to be contrary to and punishable under Section 516 of the Criminal Code, Cap 34, Volume 2, Laws of Osun State of Nigeria, 2002.
The state government also claims that the actions of the defendants are contrary to Sections 2 and 3 (1) and (2), and punishable under Section 5(1) and (2) of Osun State Local Government Accounts Administration Law, 2025.
The Chief Magistrate, A. A. Adeyeba, has ordered that the defendants be served by their various email addresses and other means of substituted service. The matter has been adjourned to January 30, 2026, for hearing.
As of the time of filing this report, no plea had been taken from the defendants, and UBA had yet to issue an official public response to the charges.
This case is expected to attract significant public and legal interest, given its implications for local government finances and the involvement of one of Nigeria’s major commercial banks.
The implication of this case is significant for local government finances in Osun State, Nigeria. If convicted, the bank and its officials could face penalties, and it may impact how local government funds are managed and disbursed in the future.
The case is also tied to a larger issue of local government autonomy and the dispute over who controls the local government councils in Osun State.
The state government has been at odds with the All Progressives Congress (APC) over the control of local governments, and this case may be part of that larger struggle.
