Adeleke Aide's Bank Shares Sale: NIWA Boss Fires Back at PDP 

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The Managing Director of National Inland Waterways Authority (NIWA), Asiwaju Bola Oyebamiji, has denied the claim that he sold Osun shares at Living Trust Bank to Ponzi scheme.

He said an aide of Governor Ademola Adeleke made the transaction.

Peoples Democratic Party (PDP) had alleged that Osun State shares were fraudulently sold to a ponzi scheme while Oyebamiji was the commissioner for Finance, demanding that he should explain his role in the transaction.

However, Oyebamiji through Adebayo Adedeji, his campaign team coordinator, in a statement yesterday described the allegation as false and misleading with intent to cast aspersion on his 2026 governorship aspiration, because he is a leading aspirant on a mission to rescue the state from PDP bad governance.

He said: “Oyebamiji played no role in how Osun State’s shares in LivingTrust were sold to private investors as the transaction which ceded the shares to private investors to place long before he became the commissioner for Finance in the state.

The divestment of Osun’s shares occurred in 2013 when Dr Wale Bolorunduro, who reportedly is now a financial advisor to Governor Adeleke, was the commissioner for Finance.

Living trust Mortgage Bank, which used to be named Omoluabi Mortgage Bank, was wholly state-owned until 2013 when it was converted from a Private Limited Liability Company to a Public Limited Liability Company and subsequently listed on the Nigerian Stock Exchange where its shares were publicly traded.”