A Chief Magistrate’s Court in Osogbo on Friday, January 30, 2026, issued arrest warrants for United Bank for Africa Plc (UBA) and three of its senior executives for allegedly allowing the opening and operation of accounts for all 30 local government councils without proper authorisation.
The court instructed the Osun State Police Command to ensure the bank and the executives are brought before the court to face a 31-count charge connected to the alleged unauthorised control of council funds.
The executives named in the warrants are Oliver Alawuba, Group Managing Director; Billy Odum, Company Secretary and Group Legal Adviser; and Chukwuma Nweke, Deputy Managing Director. The order was issued after they failed to respond to earlier summons.
READ ALSO: Supreme Court Reserves Judgment in Osun, AGF LG Funds Case
The charges allege that the accounts, meant for local councils, were operated by individuals not authorised under state law, compromising statutory financial controls and transparency in local government administration.
The case has been adjourned to Monday, February 10, 2026, for further proceedings.