Adeoye, who now serves as Group Chief Executive Officer and Managing Partner of Africarta Advisory Group, was terminated by CLG in January 2026 following what the firm described as internal and external investigations and a disciplinary hearing chaired by Sbongiseni Dube.
CLG said Adeoye was held accountable for alleged misconduct including fraud, extortion, intimidation, misuse of company funds, theft, misappropriation of funds, breach of fiduciary duty and mismanagement.
The firm also said the matter had been referred to law-enforcement, regulatory and legal authorities in Nigeria, Mauritius and South Africa.
Documents reviewed in connection with the matter indicate that complaints relating to Adeoye were subsequently presented to authorities in Nigeria and South Africa.
A petition received by the Economic and Financial Crimes Commission, Lagos Zonal Directorate 2, on June 17, 2026, names Zion Ekundayo Adeoye in connection with allegations involving company structures, bank accounts and the handling of funds.
The petition alleges that a company bearing a name similar to Centurion Law Advisory & Consulting was registered in Nigeria without authorisation from CLG.
It also alleges that bank accounts were opened in Nigeria and Mauritius without the knowledge or consent of the firm’s leadership.
The complaint further alleges that a Guaranty Trust Bank account was opened without approval from CLG’s finance department.
Adeoye was also accused in the petition of allegedly receiving company funds into personal accounts, diverting funds and entering into third-party arrangements without authorisation from the firm’s directors or finance team.
Other allegations contained in the petition include receiving money under false pretence, misrepresentation, conversion of company funds for personal use and opening accounts in the company’s name without proper approval.
A separate document bearing the letterhead of South Africa’s Financial Intelligence Centre refers to a Sandton case and the Directorate for Priority Crime Investigation, popularly known as the Hawks.
The document relates to a request for financial information and indicates that aspects of the dispute came to the attention of South African financial-intelligence authorities.
CLG’s disciplinary statement on Adeoye’s departure was detailed, with the firm publicly outlining the categories of misconduct for which it said he had been held accountable.
The firm also referred to alleged visits to a “Gentleman’s Club”, which it said were inconsistent with its values.
Adeoye had previously worked at KPMG Nigeria, the Nigerian National Petroleum Corporation, Olaniwun Ajayi and Templars before joining Centurion and eventually rising to the position of chief executive.
His appointment at Africarta Advisory Group has now brought renewed attention to the circumstances surrounding his departure from CLG.
Africarta describes itself as a pan-African professional services firm providing legal, tax, regulatory, restructuring, infrastructure and business advisory services, as well as corporate governance, due diligence, regulatory compliance and risk management.
The allegations contained in the CLG disciplinary findings and subsequent complaints remain allegations unless established by a competent authority or court.
The documents reviewed indicate that the issues surrounding Adeoye’s departure were referred to authorities in multiple jurisdictions, but the materials do not, by themselves, establish the outcome of any criminal or regulatory proceedings.
As Adeoye begins a new professional chapter at Africarta, the allegations surrounding his tenure at CLG remain part of the documented circumstances of his departure from the firm.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
