Ghost Firms Feast on PTAD Millions Under Tolulope Odunaiya First Year As Executive Secretary

Secrets Reporters

Tolulope Abiodun Odunaiya’s first full year as Executive Secretary of the Pension Transitional Arrangement Directorate (PTAd) was 2025. A SecretsReporters investigation can reveal that in that year, PTAD paid N55,027,598.90 to a company that does not exist on the Corporate Affairs Commission register, N15,739,534.89 to another ghost firm for a vanity documentary celebrating “the inception of current Leadership”, and N15,523,255.82 to a company that was four months old, before closing the year with a N96.39 million estacode splurge on 31 December.

N55 million to a company that does not exist

Easy Data Resources Limited collected N33,116,279.08 and N21,911,319.82 – N55,027,598.90 in total on 31 December 2025 as “course fee for staff to attend 2025 foreign training”. But searches of the CAC portal under the full name, “Easy Data” and “Easy Data Resources” found no such company. Fifty-five million naira of public money, paid on the last day of the year, to a firm with no CAC footprint. Under the Companies and Allied Matters Act 2020, doing business under an unregistered name is an offence — and Section 16 of the Public Procurement Act 2007 bars any bidder without valid registration from touching public contracts. 

A vanity documentary by a ghost firm

On the same 31 December, EG Integrated Services Limited received N15,739,534.89 for “design and production of a short documentary on the activities of PTAD from inception of current Leadership”. A hagiography of the current leadership paid for with public funds and the company is also not found on the CAC portal, under every name variant searched. Fifteen point seven million naira for a self-celebration film, awarded to a company that legally does not exist: a misapplication of funds against statutory purpose, the very mischief Section 38 of the Fiscal Responsibility Act 2007 targets.

The four-month-old consultant

A2Z 360 Consulting Limited was registered on 27 August 2025. On 30 December 2025 and four months later, it collected N15,523,255.82 as “consultancy fees for the training of staff on report writing and concept note preparation”. Fifteen and a half million naira for teaching report writing, handed to a four-month-old company. Sections 16 and 25 of the Procurement Act demand competitive bidding and proven capacity for contracts of this size and Pitmana Consulting Limited got paid N44,428,799.66 “60% for Staff General Training” (17 September) which is sgainst Section 35 of the Act, which ties advance payments to bank guarantees and certified performance, not 60 per cent upfront.

The N96.39 million New Year’s Eve estacode party bonanza

The year closed as it had been run with allowances. On 31 December 2025, estacode payments rained down: N12,900,972.28 to ODUNAIYA TOLULOPE ABIODUN herself; N9,229,728.98 each to Balewa Ndayako, Udeh Godwin Chijoke, Bilkisu Rimi, Muriana Saheed and Jibrin Idris; N8,184,245.78 each to Kabiru Yusuf, Judy Chude Membu and Babatunde Abdullateef Lawal; N6,958,650.78 to Christina Adebote; N5,825,910.70 to Yewande Adeyemi-Bakare. Eleven people, N96,386,916.00, one day with bare “Estacode” descriptions naming no destination, no programme, no duration. Under the Financial Regulations, estacode follows strict rates and every advance must be retired with proof of travel. 

The procurement carousel kept turning: Bills Investment Services N20,953,822.00 and Rose Media & Communication Limited N19,098,694.40 for HP toners; Redceiling Limited twice for toners (N8,743,880.00 and N8,733,164.00); diesel from Laudo Zambis Petroleum (three times), Eaz-Roc and Fulfilafrica (twice) – the staggered sub-N10 million tranches Section 43 of the Procurement Act was enacted to combat.