The National Executive Council, (NEC) of the Road Transport Employers Association of Nigeria, RTEAN, Friday, expelled its National President, Olufemi Ajewole over alleged mismanagement of about N131million belonging to the association.

The decision was taken after an emergency meeting held in Abujay Friday.

"We deliberated on the report submitted by the committee which investigated the allegations levelled against Elder Olufemi Ajewole, the President of Road Transport Employers Association of Nigeria and after exhaustive deliberation, resolved to expel him from RTEAN with immediate effect", read a communiqué by the Acting President of the association, Alhaji Sabo Mohammed Tankko and the National Secretary, Alhaji Garba D. Navom.

The association had recently accused Ajewole of allegedly converting to personal use, the sum of N34million being the proceeds from illegal tickets allegedly printed without the knowledge of other executives.

It was reported that the former president sold bundles of tickets worth N105 million to theOgunStatechapter of the association between 2010 and 2011, and allegedly converted the money into personal use. Similarly, Ajewole was alleged to have at various times between 2010 and 2011 allegedly collected various sums from the Ogun State Chapter of the association as well N1million from one Kazeem Balogun being part of the sales of trailer tickets without accounting for it.

He was suspended from office following a petition that was written against him by some members of the association on account of alleged embezzlement of the association's funds to the tune of over N131m.

Sequel to the said petition, an investigative panel was set up to verify the authenticity of the allegations and subsequently recommended his sack.