Caroline Oladunni Adebutu Memorial Endowment Scheme Not Registered With CAC


It has been discovered that “Caroline Oladuni Adebutu Memorial Endowment Scheme” the NGO used by the PDP governorship candidate, Hon. Ladipo Adebutu, to induce voters during the last governorship elections in Ogun State, is not registered after all.

Many agents of the Peoples Democratic Party (PDP) were arrested by security operatives during the March 18, 2023 Governorship and House of Assembly elections in Ogun State with preloaded verve cards of ten thousand naira denomination bearing the bold inscription of the name “Caroline Oladunni Adebutu Memorial Endowment Scheme”

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 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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