DR DOYIN ABIOLA ARRESTED ON ALLEGATION OF FRAUD

DR DOYIN ABIOLA

This is not the best of times for this very quiet and most humble wife of the late Aare Onakakanfo, Basorun MKO Abiola, in the person of Dr Doyin Abiola. The former MD of defunct Concord Newspapers, that used to be owned by her late husband has been arraigned in court on allegation of fraud. 

She and about 3 other directors of Integrated Micro-finance Bank IMFB are alleged to have granted themselves unauthorized credit facilities to the tune of N327,566,000 Naira, without collateral and those loans granted are still  outstanding as we speak. 

Dr Doyin Abiola is particularly accused of granting herself loans totalling about N26,611,246.48 between 2006 & 2008 while she she was a director of the bank without approval from the management and even a collateral. 

The 4 directors namely Dr Doyin Abiola, Akinteye Simon Ademola, Dr. Jerry Orimovuohoma and Oladapo Bello were all arrested by the Special Fraud Unit and have already been charged to court.. 

The breakdown of the unauthorized loans are as follows- 

Akinteye Simon Ademola- N131, 176 Million
Dr. Jerry Orimovuohoma- N29,200,000  Million
Oladapo Bello-N3,200,000 Million
Dr. Doyin Abiola- N26,611,246.48Million

The case of fraud against the 4 would be coming up at the Federal High Court on December 10, 2013.

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