The Economic and Financial Crimes
Commission has revealed that the sum of N27 billion, part of the proceeds of
the sale of Power Holding Company of Nigeria, was shared among top government
functionaries of the immediate past administration.
The EFCC disclosed this in a
court paper filed before the Federal High Court in Abuja on December 5, 2017,
obtained by Punch.
In the court paper, the EFCC
alleged that the total sum of N27,188,232,208.20, looted by the named
officials, was said to be meant for the settlement of the insurance premiums
for disengaged members of staff of PHCN.
The then Chief of Staff to the
then President Goodluck Jonathan, Brig. Gen. Jones Arogbofa (retd.); the then
Accountant General of the Federation, Jonah Otunla; and the then Permanent
Secretary in the Ministry of Power, Dr. Godknows Igali were named in the scam.
Others are a cousin to Jonathan,
Robert Azibaola; a former Director -General, Bureau for Public Enterprises, Benjamin
Dikki; and a former Minister of State for Power, Mohammed Wakil.
A supporting affidavit, filed
alongside the EFCC’s ex parte application, stated how the money was shared.
The commission alleged that
through proxies, Arogbofa got N150m; Dikki N1 bn; Igali, N475m; Otunla N3.6 bn;
Jonathan’s cousin, Azibaola, N2 .5 bn; and Wakil, N118m.
The application alleged that of
the total sum of N27 ,188,232,208, allegedly misappropriated by the government
officials, the sums of N6 ,584,785, US $ 222,000, and N2 ,028,800,000 worth of
shares of Aso Savings Limited had been recovered from the suspects.
The document stated that the
recovered money was being kept in the EFCC’s Recovered Funds Account domiciled
at the Central Bank of Nigeria.
It added that apart from the
monetary recovery, 12 houses as well as two pieces of land, located in Lagos,
Ibadan and Abuja , and which were allegedly bought with proceeds of the loot,
had also been recovered .
The EFCC by its ex parte
application, is seeking orders of interim forfeiture to the Federal Government
of Nigeria of the sums of N6 ,584,785,000.00 and US $ 222,000.00 “recovered in
the course of investigation and presently in the possession of the EFCC in its
Recovered Funds Account domiciled at the CBN.”
It also seeks the interim
forfeiture of “units of ASO savings shares worth the sum of N2 ,028,800,000.00
“ recovered in the course of investigation.”
It said the share certificates
were “ in the possession of the EFCC.”
The application also seeks an
“order of interim forfeiture to the Federal Government of Nigeria of the
properties allegedly “ recovered in the course of investigation from several
persons and bodies and presently under the control of the EFCC (the
applicant).”
The commission is also asking the
court to direct the publication of a notice in any national daily newspaper
“inviting any person (s) or body, who may have interest in the funds and / or
assets/properties to show cause, within 14 days of the publication of the order
of final forfeiture to the Federal Government of Nigeria, why the said funds
and assets/ properties forfeiture order should not be made.”
The anti-graft agency , through a
member of its Special Investigation Committee, Madaki Yakubu , who deposed to a
supporting affidavit, explained that it received intelligence report concerning
the looted N27 bn in August 2016.
The investigating officer
explained that the sum of N27bn, which was part of the proceeds of the sale of
PHCN, was released upon a recommendation by the Bureau for Public Enterprises
and presidential approval, for settlement of insurance premiums for disengaged
staff of the company.
He said the money was released to
Great Nigeria Insurance .
He said there were however
hiccups that arose in the process of paying the money to GNI Plc , but instead
of returning the money to the treasury, “some unscrupulous public officials
conspired among themselves and misappropriated the funds.”
He added that investigation
revealed “that the funds , less taxes, which amounted to the sum of N26
,236,594,986, was fraudulently paid to BBIL for further sharing to the
conspirators ostensibly to collate details of beneficiaries, verify their
claims and effect payment of group life and group accident insurance claim.”
On how the alleged loot was
shared, the document stated, “That in furtherance of the fraudulent scheme,
BBIL in turn paid out the sum of N6 bn from the said funds to PJO Ventures
Limited, a company controlled by Cecilia Osipitan , who doubled as the Managing
Director /CEO of GNI Plc.
“ That further to paragraph 9
above , the remaining sum of N20 bn was further shared by BBIL amongst
individuals and corporate bodies who acted as proxies and nominees of top
government functionaries while BBIL also retained a part of the proceeds of
unlawful activity for itself.
“That investigation further
revealed that the details of the beneficiaries of the fraudulent sharing and
criminal misappropriation of the public funds are as follows:
“Sunrise Estate Development
Limited, a company controlled by one Sami A. Jaoude, fraudulently received the
sum of N150m out of the funds from the account of BBIL on behalf of Brig. Gen .
Arogbofa (retd.), the Chief of Staff to the then President Goodluck Jonathan,
for development of a personal property.
“Kebna Studios &
Communication Limited, a company in which Mr. Benjamin Ezra Dikki, the then DG
of BPE, has interest , fraudulently received the sum of N1 bn out of the funds
by the order of BIBL.
“Cheltenham Investment Services
Limited, controlled by one Ifeyinwa Umunnakwe Okeke, fraudulently received the
sum of N475m out of the funds from the account of BBIL, ostensibly to invest on
behalf of Dr. Godknows Igali , the then Permanent Secretary of the Ministry of
Power.
“WESAC Farms Limited and five
other companies, all linked to Otunla Jonah, then Accountant General of the
Federation, fraudulently received the sum of N3 .6 bn out of the funds from
BBIL and used the sum of N2 .0288 bn to purchase Aso Savings’ shares in the
name of LAVAGRE Y Limited.
“Sentinel Investment &
Property Limited fraudulently received the sum of N45m also from BBIL out of
the misappropriated funds.
“KAKARTA CE Limited and its
promoter, one Robert Azibaola , fraudulently received the sum of N2 .5 bn out
of the funds from BBIL.
“Carozzeria Nig. Limited and
Pikat Properties Limited, both controlled by the then Minister of State for
Power , Mohammed Wakil, fraudulently received the respective sums of N118m and
N30 m from BBIL out of the misappropriated funds.
“Nathan Christopher Construction
Limited received the sum of N475m from BBIL out of the misappropriated funds on
the pretext of a loan.”
The commission stated that the
funds ” paid in favour of the respective beneficiaries thereof , represent proceeds
of unlawful activity, to wit criminal conspiracy, criminal breach of trust,
criminal misappropriation and abuse of office by the public officers involved
on one hand , and the unlawful act of obtaining by false pretences, receiving
stolen property and money laundering by the companies involved and their
promoters on the other hand .”
It added, “In the course of
investigation , the public officials, representatives and management of some of
the beneficiary companies surrendered the properties listed as items No . 5 , 6
, 7 , 8 , 9 , 10, 11 & 12 in the schedule to the Motion on Notice , and
refunded various amounts of money in Naira and US Dollars (the total of each is
stated on the Motion paper) to the Recovered Funds Account of the EFCC domiciled
at the Central Bank of Nigeria.
“That further to paragraphs 12
& 13 above, in the course of our investigation, we discovered that the
properties listed as items No . 1, 2 , 3 & 4 in possession of PJO Ventures
Limited, were substantially purchased with the proceed of unlawful activities
of the company and its promoters as stated in paragraph 9 above.
“That further to paragraphs 11(d)
& 12 above , the boards of Aso Savings Limited and Lavagrey Development
Company Limited have respectively passed separate resolutions surrendering and
forfeiting to the Federal Government of Nigeria the said shares purchased with
the proceeds of unlawful activity.
“That further to the foregoing
paragraphs , I know as a fact that the recovered funds are proceeds of the
stated unlawful activities and /or unclaimed properties, and that it is
desirable and in the interest of justice to grant our prayers .
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