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Thursday, 28 May 2015


How PHILLIPS ODUOZA Defrauds UBA With His Company, Afriland Properties exposed!



Many may know United Bank of Africa MD, Phillips Oduoza as a chronic womaniser and adulterer, obviously not many know he is also very fraudulent. The head honcho of UBA has a multi million naira fraud case hanging on his neck at the moment and his media aides are fighting tirelessly to cover up the messy details.                                           Charles Aigbe of the bank’s Corporate Communications and Ramon Olanrewaju heading the media department have been circulating a false media release covering up all the fraud perpetrated by their boss through his private company, Afriland properties. We stumbled on a report which exposes Phillips Oduoza and how he has been milking UBA dry with his Afriland Properties.
While Oduoza’s illicit romance with actress, Genevieve Nnaji is currently grinding his marriage as we reported a few days ago, there’s something else giving him sleepless night.       According to what we gathered, Mr. Odozua has been secretly using a company he co owns, Afriland Properties to  defraud UBA, a bank he runs as the MD/CEO.
The report revealed that Odozua is currently enmeshed in a dirty of properties acquisition, renovation and rent-age deal to United Bank of Africa, UBA.
Afriland Properties believed to be owned by Erelu Angela Adebayo, wife of former Governor of Ekiti State, Otunba Niyi Adebayor according to very informed inside sources is actually owned by Phillips Oduoza with only 30% investment share belonging to Erelu Adebayo. Although Erelu had always presented herself as the sole owner, we gathered that she was only fronting for Oduoza following  Central Bank of Nigeria’s directive against bank ownership of subsidiaries like insurance, properties etc. Philip Oduoza had allegedly used the privilege of his office in the bank to present Afriland properties as having stake in UBA.
Some confidential documents which were revealed to us recently indicates a high level of over- invoicing, inflation of rent by Afriland  Properties, the company said to be in charge of property acquisition for UBA.
One of such rent-age fraud by Afriland for UBA is the property housing the Abule Egba branch of UBA,  Lagos. The bank, we are aware, was milked dry over the deal that even suffered disruption from Land Touts.
On several occasions, banking activities have been interrupted in that branch with customers always scampering for safety whenever touts stormed the bank.
The number of the multi million dollars fraud going on in UBA under Oduoza’s nose indicates gross incompetence on his person with his first class certificate being called to question. More details in Islanders Int'l Mag next editionedition.

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