By Chuks Eke
ONITSHA, Nigeria — The leadership dispute rocking the Ozomagana Building Materials Traders Association—an adjoining market situated near the Ochanja Main Market in Onitsha—has escalated following allegations of financial diversion leveled against former market chairman Obiora Okoro.
The Comrade Tochukwu Umeh-led caretaker committee, appointed by the Anambra State Government, has accused Okoro of converting N77 million in levies collected from 430 market traders into his private accounts under the guise of remodeling the Modebe Plaza.
Petition Urges Police Investigation Over Fraud and Forgery
In a two-page petition addressed to the Anambra State Commissioner of Police, the caretaker committee called for the immediate arrest and prosecution of the former market executive.
The petition, dated August 6 and authored by legal counsel Maduabuchi Success Nnamdi Umeachusi Esq., details allegations of forgery, diversion, and unauthorized property demolition along the Ozomagana junction.
According to the petition:
- Funds Collection: Okoro allegedly collected N180,000 from each of the 430 shop owners while serving as chairman, promising to use the N77 million pool to remodel and modernize the commercial plaza leased from the Modebe family.
- Removal from Office: State authorities removed Okoro and dissolved his executive committee on March 17, 2025, following reports regarding the uncounted funds, subsequently constituting the Umeh-led caretaker committee to manage market affairs.
- Lease Agreement Alterations: The petition alleges that following his removal, Okoro conspired with a former agent of the Modebe family to falsify the original lease agreement, altering the documentation to list himself as the primary lessee rather than the traders’ association.
- Unilateral Demolition: Armed with the contested lease agreement, Okoro reportedly entered the premises, demolished portions of the existing plaza, and initiated fresh construction under his personal control.
Legal representatives for the caretaker committee urged police intervention to enforce public order and prevent physical clashes between competing factions within the market.
Ex-Chairman Denies Misappropriation, Cites Subsisting Court Order
Rebutting the allegations, Okoro denied diverting market funds into private accounts, asserting that the collected revenues were applied toward securing a 50-year lease agreement from property owners Modebe Enterprises Limited.
Speaking to reporters, Okoro maintained that the extra funds beyond the baseline collection covered loan interest charges unanimously approved during general association meetings to expedite the structural acquisition.
Okoro also challenged the legitimacy of the current caretaker leadership, pointing to recent judicial rulings directing all parties to maintain the status quo ante bellum pending the determination of substantive litigation before the Anambra State High Court.
He argued that having been re-elected for a second four-year tenure in 2023 following the successful execution of the lease, his executive mandate remains legally active until 2027 despite administrative attempts by state officials to supplant his leadership.
