Fresh controversy has erupted around the lawmaker representing Ado-Odo/Ota Federal Constituency of Ogun State in the House of Representatives, Olatunji Abayomi Akanni Akinosi, following a petition submitted to the Independent National Electoral Commission (INEC) by the United Action for Democracy (UAD), demanding that the electoral body reject and suspend his recognition for the forthcoming elections pending investigation into alleged financial misconduct.
In the explosive petition addressed to the Chairman of INEC in Abuja, the pro-democracy and anti-corruption organisation accused the APC chieftain of being linked to what it described as “unusual, complex and high-volume financial transactions” allegedly amounting to approximately ₦1.46 billion across multiple bank accounts and corporate entities.
According to the petition signed by the General Secretary of UAD, Kunle Wizeman Ajayi, preliminary financial intelligence summaries reviewed by the organisation allegedly revealed massive inflows running into hundreds of millions of naira through several accounts reportedly connected to the federal lawmaker.
The petition specifically referenced transactions allegedly involving over ₦730 million in one GTBank account, more than ₦272 million in another GTBank account, and approximately ₦268.9 million in a UBA account, among other financial movements spread across multiple institutions.
UAD claimed the scale and pattern of the transactions raised what it called “reasonable suspicion” of possible money laundering, concealment of illicit funds, abuse of public office and undue financial influence.
The organisation further alleged that the lawmaker was linked to several bank accounts across different financial institutions including Guaranty Trust Bank, Zenith Bank, United Bank for Africa, First City Monument Bank, Access Bank, Jaiz Bank and Ecobank.
According to the petition, the multiplicity of accounts allegedly presents “classic indicators of financial layering,” a process commonly associated with laundering and concealment of funds.
The anti-corruption group also listed several companies allegedly connected to the lawmaker, including Abolak Integrated Enterprises, Abolas Engineering Services Ltd and Zashow Motor Company.
The petition claimed there were concerns that the firms may have been used as channels for movement and concealment of funds, proxy transactions, contract kickbacks and illicit enrichment schemes.
UAD further questioned the source of several deposits allegedly ranging between ₦10 million and ₦78 million from individuals and companies including Manasa Multi Concept, Seplat Petroleum Development Company, Nurudeen Oladunjaye Olaleye and other engineering and logistics firms.
The group argued that the transactions raised serious concerns over possible procurement-related inducements, political financing irregularities and undue influence from private entities.
Citing provisions of the 1999 Constitution, the Electoral Act 2022, the Code of Conduct for Public Officers, the Money Laundering (Prevention and Prohibition) Act 2022, the EFCC Act and the ICPC Act, the organisation insisted that INEC has a constitutional responsibility to ensure that persons facing credible allegations of financial misconduct are not cleared without proper scrutiny.
The petition warned that allowing any candidate with unresolved financial allegations to contest elections could undermine public confidence in democratic institutions and damage the credibility of Nigeria’s electoral system.
Among its demands, UAD urged INEC to immediately decline the acceptance and recognition of Hon. Akinosi as a candidate pending the outcome of investigations, while also calling on the EFCC and the Nigerian Financial Intelligence Unit (NFIU) to launch a full-scale probe into the allegations.
The group also requested enhanced due diligence and compliance review against the lawmaker in line with electoral integrity standards.
As of the time of filing this report, neither Hon. Akinosi nor the APC had issued an official response to the allegations contained in the petition.
The petition comes amid increasing public scrutiny of political office holders ahead of the forthcoming elections, as anti-corruption groups continue to demand stricter integrity tests for candidates seeking public office in Nigeria.