Mr Adewale Osoniyi, the Caretaker Chairman of Aare Latosa Local Council Development Area (LCDA), Samonda, Ibadan, made the disclosure on Friday while speaking with newsmen.
Osoniyi said the suspension was to pave way for proper investigation of the allegation.
“Preliminary investigation and arrest of the perpetrators made so far indicate that the executive members of the traders’ association were involved in the scam.
“The vacuum created by the suspension of the executives will not cause any rancour but will allow government to carry out a thorough investigation to identify those involved and who was getting the money.
“We had been hearing the rumour that we have sent people out to be collecting money on behalf of the state and local government, particularly on behalf of the governor and chairman of the local government.
“But truly, nobody has sent anyone to collect any revenue from the traders for the government.
“The mode of payment that people know is paying into government bank account, thereafter, you show your teller to the government task force,” he said.
Osoniyi further clarified that the suspension did not translate to closure of the market.