FRAUD ALERT! Caroline Oladunni Adebutu Memorial Endowment Scheme Not Registered With CAC

Checks reveal that the “Caroline Oladuni Adebutu Memorial Endowment Scheme”, the non governmental organisation (NGO) used by the Peoples Democratic Party (PDP) governorship candidate, Ladi Adebutu, to allegedly induce voters during the last governorship election in Ogun State, is not registered after all.

Many agents of the PDP were arrested by security operatives during the March 18 election in Ogun State with preloaded verve cards of ₦10,000 each – bearing the bold inscription of the name “Caroline Oladunni Adebutu Memorial Endowment Scheme.”

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The Spokesperson of the Nigerian Drug Laws Enforcement Agency (NDLEA), Femi Babafemi, on the day of the election, posted on his verified handle: “JUST IN: Operatives of @ndlea_nigeria on election duty stop and search, just intercepted four party agents with
hundreds of money credit cards, to buy votes at Ibara Housing Estate, Ogun State. Each card contains 10k and activated to cash with a code. @MB Marwa has directed they be handed over to the police after proper documentation.”

Also there were reports that another PDP agent was arrested by police officers at Agbado, with more than 300 PVCs and verve Prepaid ATM Cards with the name “Caroline Oladunni Adebutu
Memorial Endowment Scheme, and some cash at Agbado, in Ogun State.

Several checks at the Corporate Affairs Commission (CAC) showed that the name “Caroline Oladunni Adebutu Memorial Endowment Scheme” is not registered with the Commission.

Several people who conducted the searches returned the same results. “We even did post incorporation search. The name is not even registrable with CAC”, said a lawyer who was involved in the checks.

It is left to be known how such unregistered organisation came to be used for such financial transactions with one of the long established banking institutions, which the father of PDP governorship candidate, Ladi Adebutu, has big interest in.

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