The Nation Newspaper

Tag: EFCC

  • Power sector needs EFCC, not Senate probe

    Senate President, Dr, Bukola Saraki, is troubled. This has nothing to do with his ongoing crisis of legitimacy as Senate President. For now, the battle against his political party that has accused him of playing Brutus has been shifted to another day. His priority today is promoting solidarity with Nigerians that have been in darkness for 16 years. Bukola Saraki, an inheritor of Kwara fiefdom who often treats all as subjects, told Nigerians last week that he was troubled that they have not derived joy from both ‘the power Reform Act and the unbundling of the Power Holding Company of Nigeria.’

    Senator Godswill Akpabio, probably as part of the horse-trading that produced him Senate Minority Leader against Senate convention, was the first to echo the Senate President’s sentiments. He was followed by Senator Danjuma Goje who expressed his empathy for Nigerians because of ‘the untold suffering that lack of power supply had caused’ them. As for Senator Ndume, his righteous indignation stemmed not just from the fact that he spends  N10,000  daily to power his generator, but more from the failure of ‘government to show anything for the huge amount of money sunk into the power sector in the last 16 years.

    United by their passion for Nigeria, law makers that have for two months engaged in  competition over ‘materials and ideas’ which only ended with the sharing of about N13b for doing absolutely nothing, resolved to probe the power sector from Obasanjo to Jonathan. They have accordingly set up the Senator Abubakar Kyari‘s Ad Hoc Committee to ‘investigate the activities of the Discos and what is preventing Nigerians from benefitting from the unbundling of the PHCN’.

    However, for the exercise not to be seen as diversionary, many are saying the Senate should first solve its leadership crisis of legitimacy following the establishment by the police that the Senate rules used for the election of the Senate leadership were forged. But beyond this, many also believe Nigerians don’t really need a probe to identify those behind their continued darkness. All that is needed, in their view, since our leaders believe Nigerians suffer from collective amnesia, is a recall to memory.

    In 2008, Obasanjo in a long letter warned the Dimeji Bankole-led Lower House that probing his handling of the power sector will be noting but ‘a theatrical or circus show (which) will provide fun and maybe hurt some people’. He then went on to give an account of his stewardship to the Elumelu House Committee. He inherited in 1999 seven power stations in different states of disrepair, generating 1500MW; he added six with the seventh at finishing stage by 2007; introduced the pre-paid meter system and moved revenue generation from about N2b per month in year 2000 to about N7b per month in 2007 with$6.5b as capital expenditure and running costs between 1999 to 2007 including outstanding letters of credit as against the Dimeji Bankole’s $16b and Yar Adua’s $10b bandied figures. He capped all up with the inauguration of the Nigeria Integrated Power Project (NIPP), hoping ‘his successors would be driven with the same zeal and move the planned target up to 20,000 MW by 2015’.According to him, to kick-start, besides the Chinese loan facility, the National Council of State and the National Assembly also approved an initial $2.5b for NIPP from the “Excess Crude Oil Account” (ECOA) in August 2005.

    The late Dr. Agagu, his minister for power,  also revealed that ‘between June 2000 and December 2002, ‘our electricity generation capacity increased from 1425 to 4300 megawatts’; that the establishment of four power projects were completed within 24 months from contractors’ mobilisation, making them the fastest of deliveries in the history of Nigeria. ‘For all the four plants, a concessionary funding programme was negotiated with the Chinese Exim Bank through which the Nigerian government paid only 35 per cent of their cost for the plants to be delivered. The balance of 65 per cent, he explained, was to be paid over a seven-year period at six per cent interest rate and two years moratorium’. But Godwin Elumelu, as House of Representative chairman on power representing cash strapped lawmakers who claimed to have sold landed properties to fight the 2007 election, insisted there was indeed evidence of corruption in the process of awarding the contracts. On that account they delayed the Obasanjo scheme for two years.

    But all that was needed to prove our lawmakers were men with feet of clay was an opportunity to spend N7b of excess REA fund within two weeks to prevent the money from returning to government coffers. To beat the deadline,  Elumelu and his colleagues according to EFCC, ignored ‘due process’, nominated nine contractors by proxy, authorised the MD of REA to award them the contracts, and prevailed on the Permanent Secretary of the ministry who was also the acting minister to grant approval for the contracts and the payment of 15 per cent of the fee. The balance of 85 per cent was equally withdrawn from the REA account and lodged in the banks where those contractors had their accounts. On June 14 2010, EFCC further accused Godwin Elumelu, and Senator Nicholas Ugbane, his counterpart as Senate Committee Chairman on Power, of misappropriating over N10b public funds. EFCC therefore concluded that theexercise ”was used as conduit pipes with which funds of the Rural Electrification Agency were siphoned”.  EFCC added other offences – ‘misappropriation of N500million to buy houses; diversion of REA’s funds; flouting of government’s rules on award of contracts and award of fictitious and unnecessary contracts without following due process.’ But Justice M.G Umar of Abuja High Court on March 24, 2012, absolved them along with their fronts, claiming ‘he was unable to find a prima facie case or complaint disclosed in the proof of evidence against the respondent’. EFCC never appealed.

    Jonathan, after a two-year delay, went back to Obasanjo’s programme. His Roadmap for Power Sector Reform was a continuation of Obasanjo’s 2005 Electric Power Sector Reform Act (EPSR Act), which called for ‘unbundling the national power utility company into a series of 18 successor companies: six generation companies and 11 distribution companies. But the well-known forces behind our darkness once again overwhelmed a less self-assertive Jonathan. For instance, most of the 60 licensed Independent Power Producers (IPPs) were allegedly owned by some PDP leaders or their sympathisers. And as if to confirm this, Jerry Gana, a PDP leading light doubling as (IPPAN) chairman,  led the body to meet government over the demand of IPPS for waivers on ‘importation of gas-related machinery and equipment.’ The Jonathan government followed with a promise of more than half a billion bailout.

    As the saying goes, ‘the pests that feed on leaf live on leaves’. The Senate needs not waste our resources to know that those who have continued to feed on the blood and sweat of Nigerian tax payers are those prolonging our darkness. Dagogo Jack, the chairman of Jonathan presidential task force on power now says “ since government  has no control over private firms, the best government can do is to ensure they ‘sustain the current 4500MW level, if they cannot increase it.” With power generation sometimes falling below 2000MW and   consumers debited for energy never supplied, government says it is helpless. Prof Bath Nnaji who as minister for power claimed that ‘apart from transmission, the  (power)sector, ”with regard to generation,  was moving ahead by ‘leaps and bounds’, now as an investor, probably smiles to the bank following the commissioning of his transmission firm in Aba by then President Jonathan.  The lot of consumers remains the same. His successor, Prof. Nebo, who told us that ”the situation where only 25 per cent of Nigerians have access to electricity is a nightmare caused by human beings used by evil forces” has failed to identify the parasites that have continued to prolong our darkness. Of course, as for the well-known PDP stalwarts with links to the power sector who donated billions towards ex-president Jonathan’s failed reelection bid, what is needed is not Senate probe but EFCC inquisition.

  • Court awards N12m against EFCC for illegal arrest of firm’s manager

    The Federal High Court in Lagos yesterday awarded N12 million against the Economic and Financial Crimes Commission (EFCC) for the illegal arrest and detention of the Administrative Manager of  Rana Prestige Nigeria Industries Limited, Mr Adewale Adeniyi.

    Adeniyi had sought N30 million as general, exemplary and aggravated damages for the violation of his rights, as well as N10 million as cost of the suit.

    His arrest followed a petition to EFCC by Mrs Rachadatou Abdou, who co-owns the company.

    Ruling on his fundamental rights enforcement application yesterday, Justice Mohammed Idris held that the commission violated the applicant’s rights.

    “There is no evidence that there was a preliminary investigation into allegations against him before the arrest,” the judge said.

    Besides, he said Adeniyi was arrested without a warrant, which makes it illegal.

    “No order of court authorising the arrest was exhibited before the court. The respondents acted irrationally without following due process,” the judge held.

    Justice Yusuna said before arresting and detaining anyone, there must be preliminary investigation into the allegations against them.

    He said the applicant was not charged to court prior to his detention.

    Justice Yunusa said security agencies must exercise restraint at all times and must not be “intoxicated” by the enormous powers they possess.

    He held that the applicant deserved to be paid damages because of the trauma he was subjected to in detention.

    The judge awarded N10 million against EFCC, which must also pay N2 million, and N5 million against Mrs Abdou.

    During the hearing, Mrs Abdou’s lawyer Femi Falana (SAN) said Adeniyi’s claim that Mrs Abdou instigated his arrest was not backed by any evidence.

    “The applicant has not attached any documents in support of his application,” he said.

    Besides, he said his client’s petition to EFCC alleging massive fraud, forgery and diversion of funds did not name Adeniyi in it.

    EFCC’s counsel Iyabo Daramola said the commission was only carrying out its constitutional duties.

    “The action of the first respondent was statutorily conducted and we urge the court to so hold,” she said.

    In her counter-affidavit, Mrs Abdou said she and the company’s Director Mr Gnanhoue Nazaire, jointly established Rana Prestige and were the only directors.

    She said she was fraudulently cut off as a director as money was withdrawn from the company’s accounts without her consent although she was a signatory to them.

    “It was in the cause of this fraudulent act perpetrated against me that I wrote a petition against Mr Nazaire to the EFCC through my lawyer,” she said.

    According to her, she allowed the commission to carry out its investigation and never intervened in any way nor instigated EFCC to perform its duties.

    Justice Yunusa will, on August 20 and 24, rule on pending fundamental rights’ applications by Rana Prestige, Hair Prestige Manufacturing Nigeria Limited, Prestige Hair Fashion Nigeria Limited, Nazaire (trading under Rana Seasoning Ventures) and its General Manager Modest Senou against the EFCC, Mrs Alice Bulus and Mrs Abdou.

    Hair Prestige, Prestige Hair Fashion, Nazaire and Senou sought N180 million as damages for the violation of their rights, while Rana Prestige and Nazaire asked for N100 million damages and N10 million as cost.

    Among others, they prayed for an order that the company should be opened and the embargo on the company’s accounts lifted.

     

  • EFCC: Insurgents fund activities in Nigeria, Cameroun, Chad, Niger through illicit funds

    The Chairman of the Economic and Financial Crimes Commission (EFCC), yesterday accused insurgents of funding terrorism in Nigeria, Chad, Niger and others through illicit cash.

    He added that the laundering of illicit funds from Nigeria to other borders dropped from $9.9billion in 2013 to $807,585,061.70 in 2014.

    He said the war against terrorism can only be won with  improved financial intelligence gathering by the anti-graft agency and other law enforcement agencies.

    Lamorde spoke in Abuja at the opening ceremony of a five-day inter-agency training programme on Cross Border Financial Investigation,  organised by the United States Department of Homeland Security, for  officers of the Nigeria Police Force, (NPF) Nigeria Immigration Service(NIS), the Nigeria Customs Service (NCS),  National Drug Law Enforcement Agency (NDLEA) and the EFCC.

    He said: “The EFCC, in collaboration with the Nigeria Customs Service and the National Drug Law Enforcement Agency, NDLEA, have in the last few years taken very bold steps to check illicit movement of cash across our borders. Operatives stationed at major international airports across the country have intercepted millions of dollars in cash, which were not declared to customs by their owners.

    ”This measure accounted for the significant drop in currency outflow outside Nigeria in 2013, as currency declaration dropped from $9,926,739,648.00 to $1,324,045,617.00. There was a further drop in 2014 as currency outflows recorded an all- time low of $807,585,061.70.

    “It is not impossible that other factors contributed in forcing the drop. Perhaps this training will offer us an opportunity to determine these other factors that could have been at play.

    “Nevertheless, our target is to minimize, if not completely eradicate the incidence of illicit cash movement, bearing in mind the implicit danger to our collective health as a nation.

    The EFCC chairman said the only way to tackle terrorism  is to deny insurgents of illicit funds.”

    He added:  “A reputable strategy to fight insurgency is to deprive the insurgents of funds, because there is no dispute that illicit funds movement across borders fuels organized crimes, including terror attacks and insurgency in Nigeria.

    The Deputy Chief of Mission, United States Embassy, Maria Brewer said that the training programme will expose participants to new trends and techniques in combating economic and financial crimes.

    ”Since economic and financial crimes is a global phenomenon, the training will focus among others, on taking away proceed of crime, because when you take away the money, you take away why people do crime,”she said.

    The Commander of Narcotics, Alhaji Hamisa Lawal,  represented the NDLEA boss.

    Highpoint of the ceremony was the donation of a high-tech counting machine to the EFCC. Brewer made the presentation on behalf of the U.S. government to assist the EFCC and the country fight corruption.

     

  • NANS to EFCC: Be fair in NAFDAC D-G’s prob

    President, National Association of Nigeria Students (NANS), Tijani Usman Sheu, has said  the investigation of the Director-General of National Agency for Foods, Drugs Administration (NAFDAC), Mr. Paul Orhii, by the Economic and Financial Crimes Commission (EFCC) should be devoid of bias or politics.

    At a news conference in Lagos, Sheu dissociated the union from a protest by some students, claiming to be NANS representatives, staged against the NAFDAC chief at the EFCC office in Ikoyi.

    The NANS President said the union is not against the probe of the NAFDAC helmsman or any other agency but cautioned that the exercise should not be politicised.

    He advised those he described as unscrupulous elements not to drag the union into the probe.

    Sheu said NANS did not contemplated or decide to protest against either the NAFDAC or its leadership, warning students not to allow themselves to be used by any individual who may have vested interest in the Orhii’s investigation.

    Sheu said NANS is committed to efforts  by the NAFDAC chief to rid the country of fake and counterfeit drugs, saying that such effort were already yielding results in most tertiary institutions.

    “We support and encourage the EFCC in its effort and anti-corruption activities. We only wish to state that such should be devoid of bias or undue politics in order not to destroy the international reputation Nigeria has enjoyed globally through the activities of NAFDAC in waging war against drug counterfeiting, drug abuse and unwholesome consumption of food, beverages and other dangerous alcoholic contents.

    “We strongly believe that any genuine effort to investigate corrupt practices, particularly, as the case may be in NAFDAC, such must be all inclusive and should not be seen as an exercise to witch hunt the director general alone,” he said.

     

  • EFCC and anti- corruption war

    In all honesty, President Muhammad Buhari’s determined drive to frontally tackle the monster of crass corruption in high places and bring it to its begging knees deserves commendation. Indeed, it takes uncommon courage for any leader to set in motion pragmatic mechanisms to rein in the twin evils of corruption and impunity which have enjoyed a free rein in Nigeria for decades and made us a laughing stock in the comity of nations. Little wonder that such moves have attracted national and global acclaim.

    And deservedly so, because no nation ever achieves sustainable socio-economic growth when corruption assumes the dangerous dimension of a rampaging cancer spreading within its body polity and nothing is done to contain it. With the sweeping broom to cleanse the Augean stable, the president’s action is largely viewed as patriotic since we are all victims.

    It is against this bright backdrop that one would view the recent resurgence of the anti-graft Economic and Financial Crimes Commission (EFCC) to investigate those alleged to have soiled their hands with filthy lucre especially since Buhari became the new president. The fact that the searchlight is being beamed on the high and mighty makes it more credible. Within the short span of two months for instance, the former governor of Jigawa state, Alhaji Lamido and his two sons, Aminu and Mustapha along with some others have been facing prosecution. They are to answer questions on 28-count charges related to N1.35 bn fraud.

    In a similar vein, the EFCC invited Toyin Saraki, wife to the former Kwara State governor and currently the Senate President, for questioning. She has to explain the execution of several contracts traced to her while her husband held sway as the state’s helmsman. On her part, Mrs. Zaina Dangigari, the daughter of late President Umaru Yar’ Adua and wife to the ex-governor of Kebbi State, is being quizzed for alleged misappropriation of N2bn state funds.

    Not done, the agency has also grilled Baraka Sanni, who was the Senior Special Assistant to former president Goodluck Jonathan on Schools and Agricultural Programmes. She has to defend herself against weighty allegations of diversion of funds earmarked for her office.

    President Buhari is also taking a closer look into the operations of the NNPC, allegedly responsible for monumental fraud, not excluding massive oil theft. One cannot but align with such moves to reposition the nation’s economy for impactful growth.

    The truth, however, is that as one praises EFCC’s salutary efforts, it must be able separate the wheat from the chaff , so that some Nigerians  won’t  capitalize on the wave of allegations to raise false alarm and perhaps settle scores. Only such would not distract well-meaning, focused public servants who are passionate about deploying their energy and intellectual skills for the best of their country.

    The recent invitation of the much-respected Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Dr.Paul Orhii, by the EFCC readily comes to mind. Even while he willingly obliged the invitation out of his own volition, the sensational and screaming headlines crafted by some section of the media had the intention to paint the suspect guilty, even before investigations started. People became jumpy, getting into hasty conclusions that not only undermine the image of the suspects but ultimately that of the agency in question.

    Is it not curious that one Mr. Ademola Magbojuri, the erstwhile Director, Finance and Account made allegations of acts bodering on financial impropriety on the part of Orhii only after he was redeployed to NAFDAC Training Institute at Kaduna? It is ridiculous that a public officer who has exhibited an act of insubordination would turn round to cook up cock and bull stories against his boss. That is pure mischief.

    What has he been doing all the while, even as media reports claim that he has all along been presiding over the meetings of the same fund disbursement he is accusing Orhii of? This, in my humble opinion shows that the former finance director has ulterior motives. Such vindictive people, out on a mission of vendetta, should not be allowed to distract the Buhari administration from its anti-graft war which is not meant to witch-hunt any citizen.

    Having read and investigated with apt interest Orhii’s giant steps since assumption of office, there is ample evidence that he has taken NAFDAC notches higher even if has chosen to be on the quiet side and allows his achievements to speak for themselves. What with, for instance, the construction of new laboratories, upgrading them to international standards, the use of cutting-edge technology against counterfeit drugs, to mention but a few. Anyone in doubt should pay a visit to the new edifice at Isolo, Lagos. In fact, for a world-renowned medical practitioner, lawyer and expert on drug-related matters to have chosen to return to serve his country shows the trait of a patriot. Should we pay him back in bad coins? While one is not advocating that he should not be investigated, that should be done with utmost caution. The EFCC has to differentiate between the motive of the petitioners and the method it adopts in carrying out its investigations, especially under the current tense political situation.

     

    • Obalola, a public affairs analyst, wrote from Lagos.
  • EFCC not opposed to criticisms, says Lamorde

    EFCC not opposed to criticisms, says Lamorde

    Economic and Financial Crimes Commission (EFCC) chair Ibrahim Lamorde, yesterday said the Commission is not averse to constructive criticisms that can assist to win the war against corruption.

    He said the commission’s doors were open to meaningful contributions from individuals and organizations with good intentions to stamp out economic and financial crimes in the country.

    Lamorde spoke at a meeting with members of the Coalition of Civil Society Groups in Nigeria (CCOSGIN) in Abuja.

    He said the success so far recorded by the Commission in the war against corruption would not have been possible without the active support of the civil society groups.

    Lamorde said: “Our doors are open to criticisms and suggestions. It is gratifying to know that there are still some genuine civil society groups that appreciate what we are doing. We also appreciate your coming to identify with us and encourage us in our fight against corruption.

    “As proof that we are partners in progress in the war against corruption, you will recall that the EFCC signed a Memorandum of Understanding, MoU, with some civil society groups in 2014 at the EFCC Academy.

    “It is an on-going process and is still active; so, I invite members of your group that are yet to key into it to join.”

    Lamorde also stated that EFCC would partner with the group in its planned national colloquium later in the year.

    Earlier in his address, the National Chairman of CCOSGIN, Comrade Iso Bassey Edim, said the anti-corruption war by the EFCC was in tandem with President Muhammad Buhari’s zero tolerance for corruption.

    Edim, who said the visit was not an act of sycophancy, urged Lamorde not to be distracted by the activities of “self-acclaimed agents sponsored by some corrupt elements to distract the EFCC from carrying out its constitutional duties.”

    Edim, who was accompanied by some officials of the 47 civil society/liberty groups in Nigeria, also passed a vote of confidence in Larmode.

  • Alleged $4m fraud: EFCC arrests Ekiti hotelier

    Alleged $4m fraud: EFCC arrests Ekiti hotelier

    The Economic and Financial Crimes Commission (EFCC) yesterday said it has arrested a suspected fraudster, Idowu Olarenwaju (alias Capt Anthony Abel Saramoh) has been defrauding an American Citizen of $4million through his company, Total Intership Nigeria Limited.

    The suspect blew the fraud cash on exotic cars, acquisition of several properties in Port Harcourt, and a 44-room hotel in Ado Ekiti, Ekiti State.

    The posh  cars recovered from the suspect included a 2014 Range Rover, 2013 Honda Crosstour, 2013 Range Evogue and Honda CRV.

    According to a statement by the Head of Media and Publicity of the EFCC, Mr. Wilson  Uwujaren.

    The statement said: “The heist was earned through a phony crude oil contracts with the victim, wiring the said amount into the account of Total Intership Nigeria Limited ostensibly for the supply of crude oil.

    “The bubble burst after the victim was left clutching the air, in an exasperating wait that ended with a petition to the EFCC.

    “One Joe Onwudimowei, an accomplice who operates the account of Total Intership Nigeria Limited with Guaranty Trust Bank (GTB) where the proceeds of the said fake contract was deposited, was arrested on 18th June, 2015 and upon interrogation, fingered Idowu Olanrewaju and one Otunba Yemi Osho as the people he handed over all monies that passed through the account.

     ”On the 19th of June, 2015, the duo of Idowu Olanrewaju and Yemi Osho were arrested following a dawn raid on their homes by operatives of the EFCC.”

    The statement said the suspect, who has no reasonable source of income,  was speechless when confronted with facts.

    The statement added: “According to Onwudimowei, Olanrewaju sometime in 2010, instructed him to withdraw the sum of Three Million, Five Hundred Thousand Naira (N3, 500, 000.00) for Chief Yemi Osho. Osho, he claimed, in turn handed over the money to two people sent to him by Olarenwaju.

    “This singular involvement of Osho was what made Olanrewaju confess to the fraud as he had initially denied knowing Onwudimowei. When Olanrewaju was confronted with the testimony of Osho, sources at the EFCC disclosed that he was speechless and began to plead for mercy.

    “Olanrewaju who does not have any reasonable source of income was discovered to have several properties in Port Harcourt, Rivers State and a 44 rooms hotel in Ado Ekiti, Ekiti State. Also recovered from were a number of exotic cars including, a 2014 Range Rover, 2013 Honda Crosstour, 2013 Range Evogue and Honda CRV.

    Uwujaren said the suspect will be charged to court as soon as investigation is concluded.

  • Court stops EFCC from prosecuting Ibru

    Court stops EFCC from prosecuting Ibru

    Justice Gabriel Kolawole of the Federal High Court, Abuja has stopped the Economic and Financial Crimes Commission (EFCC) from prosecuting Chairman of Ikeja Hotels Plc., Goodie Ibru.

    The EFCC had charged Ibru and some others before the Igbosere High Court for N1 billion fraud.

    Ibru and three companies – Associated Ventures International Limited, IHL Services Limited and Clearview Investment Limited – were named in the charge as defendants.

    While the EFCC were preparing to arraign the defendants, they went before the Federal High Court, Abuja to lodge a fundamental rights enforcement suit.

    On July 15, Justice Gariel Kolawole, who sat as the vacation judge granted an ex-parte motion by the applicants and restrained the EFCC from taking further steps on the charge pending the determination of the suit.

    The judge directed the applicants to serve the enrolled order on the EFCC and others listed as respondents in the suit.

    He said the EFCC could, within five days from the day of being served with the enrolled order, apply for the discharge of the restraining order if it desires. He has adjourned to September 14.

    A copy of the enrolled order reads: “It is hereby ordered that the 1st respondent (EFCC) to stay all actions against the 1st applicant (Goodie Ibru) in respect of the petitions written by the second and third respondents or any other person on account of the operations and management of Tourist Company of Nigeria Plc and Ikeja Hotels Plc pending the hearing and final determination of the originating motion in this suit.

    “That in relation to prayer two, the respondents, the 1st respondent (EFCC) in particular against whom the order is pointedly directed, shall be at liberty within five days of its being served with the applicants’ originating motion as well as the Certified True Copy of the enrolment of these orders, to apply that these orders be discharged prior to the hearing and determination of the applicants’ originating motion.”

    The judge adjourned the hearing of the main suit till September 14 “without prejudice to the right of the respondents to apply for the discharge of these orders”.

    Ibru, Associated Ventures International Limited and IHL Services Limited are the plaintiffs in the fundamental human rights enforcement suit marked, FHC/ABJ/CS/616/2015, which is before the Federal High Court in Abuja.

    The respondents  are the EFCC, publisher of The Guardian newspapers and also an in-law to Goodie Ibru, Mrs. Maiden Ibru; representative of the Civil Society Network Against Corruption, whose petition the EFCC acted upon to investigate (Goodie) Ibru, Mr. Olanrewaju Suraju; Alurum Investment Limited, Dadifol Limited and RFC Limited.

    The EFCC, in the charge  now befor Justice Raliatu Adebiyi of the Lagos State High Court, Igbosere, alleged that Ibru and his co-accused conspired amongst themselves to steal a sum of N867,700,990.00 being the profit due to Ikeja Hotels Plc, alleging that the suspects received the stolen sum through Starwood Limited, the managers of Sheraton Hotels, Ikeja.

     The alleged offence was said to have been committed between January and December 2010.

    The EFCC also, in another count, alleged that the defendants had, between June and October 2010, with intent to defraud, fraudulently converted to personal use, a sum of N55,102,485.50 received through Starwood Limited as profit due to the hotel.

    It could not be confirmed yesterday whether or not the EFCC has applied for the restrain order to be vacated.

  • EFCC and witch cries

    SIR: The cries of witches which in the not too distant past were incubating, have resonated their ugly voices both day and night in our garden of change. Could these be the cry of those whose closets are filled with skeletons?

    The Economic and Financial Crimes Commission (EFCC) which was established in 2003 is a Nigerian law enforcement agency that investigates advance fee fraud and other financial crimes among politicians, government officials and private agencies was in the past a nightmare to all those who in their bulimic accumulation of wealth pilfered our collective patrimony.

    Majority of them were in the past investigated, arrested and convicted with some forfeiting some of their ill-gotten assets through a plea bargain.

    Back then, under the leadership of Mallam Nuhu Ribadu, the fear of EFCC became the beginning of financial repentance in our polity. Many high profiled politicians, including former states governors, top police echelons, top civil servants, and contractors, individuals etc involved in one financial misappropriation or the other were convicted.

    The change of governments and the body languages of the previous permissive governments greatly affected the operations of EFCC. The watchdog was confined to a cage and things began to deteriorate, the once fearless financial watchdog became a toothless bull dog that couldn’t even bite the hands of those who put it directly in it’s mouth.

    Our crooked politicians, together with their cohorts, took advantage of the impuissance to wreck our treasury. They have suddenly woken up to the fact that the once toothless watch dog can now bite.

    The witches, in their jittery mood have been crying, the dog was released for witch-hunting purposes.

    It’s been difficult here trying to fathom the purpose of the complaints of those morally contradicted persons who have taken it as a duty upon themselves to dictate whom the financial watch dog should beam it’s lights on and who not to.

    EFCC, the anti corruption agency that was on the throes of demise in the past administration could best be described as the proverbial goat that must be killed to appease the gods either when the child is sick or when the child has been healed. Either way, the goat must be taken to the slaughter house. Or how does one explain the fact that same EFCC Nigerians complained in the not too distant past, were moribund and inactive, is same agency that is being accused by some treacherous ingrates of witch-hunting?

    Accusing EFCC of witch-hunting is just a case of giving a dog a bad name just to hang it. We should rather commend President Muhammadu Buhari for looking beyond ethnic and religious affiliations in the fight against corruption.

    This is indeed the time to work the talk, EFCC, under President Buhari does not have any reason to fail as the President has reiterated his stance that corrupt PDP and APC members must face trial against the recent allegations that EFCC is being used to witch-hunt the opposition.

    I advise EFCC not to listen to the cries of those witches that have been crying both day and night in the discharge of their constitutional duties. It’s natural for the guilty to be afraid!

     

    • Joe Onwukeme.

    Enugu.

     

  • Group lauds EFCC over charges against Ibru

    A group, the Civil Society Network against Corruption ( CSNAC) has praised the Economic and Financial Crimes Commission (EFCC) for filing charges against Goodie Minabo Ibru, Associated Ventures International Limited, IHL Services Limited and Clearview Investment Limited before the Lagos High Court.

    The coalition of 150  anti-corruption organisations earlier petitioned EFCC over the alleged crime.

    The commission accused the defendants of conspiracy to steal, and stealing by fraudulent conversion of about N2 billion belonging to Ikeja Hotel Plc.

    CSNAC noted, however, that the defendants  are yet to be arraigned.

    In a statement in Lagos by its chairman Olanrewaju Suraju, the group said: ”EFCC deserves public commendation for its work in this regard. However, while they are deserving of our commendation, we must state that our petition to the EFCC dated the 10th of November 2014 alleges more cases of criminal diversion of funds in excess of the N2 billion belonging to Ikeja Hotel Plc and its subsidiaries by Mr. Goodie Ibru and his accomplices were charged and  in respect of which we had similarly sought orders of court to require the commission to promptly investigate and prosecute.

    ”The fact that Mr. Goodie Ibru is a former President of the Nigeria Stock Exchange, especially gives cause for worry, and should ordinarily provide an added impetus for the regulators to investigate the claims against Mr. Goodie Ibru, so as not to appear complicit by any stretch of imagination.”

    Expressing its interest in the issue since last year, Suraju said the coalition took interest in the Ikeja Hotel debacle after it received complaints and petitions from many ordinary shareholders in the Hotel,  about the mismanagement of Lagos Sheraton Hotel by the Management of Ikeja Hotel.

    “This interest is demonstrated by the fact that following the removal of Mr. Goodie Ibru on January 6, 2015, as the Chairman of the Board of Directors of Ikeja Hotel PLC at a Court ordered Extraordinary General Meeting, the outcomes of which were similarly validated by the Federal High Court, Mr.Rasheed Olaoluwa, the Managing Director of Bank of Industry, became the new Chairman of the Board of Directors of Ikeja Hotel Plc. The public expects that he will ensure that corporate governance codes are fully complied with, such as to prevent the kind of fraud that had been so cruelly perpetrated against the ordinary shareholder of Ikeja Hotel Plc.

    “We shall pursue and ensure that perpetrators of acts of corruption against the public are fully made to account, whether they are carried out in state institutions and parastatals or private/public enterprise. In this regard, we earnestly call on the Securities and Exchange Commission, the Nigeria Stock Exchange as well as the Corporate Affairs Commission to undertake routine inspections of companies to ensure that such infractions as was witnessed in Ikeja Hotel Plc are checked and punished.

    “Accordingly, CSNAC wishes to urge the EFCC to continue its investigation into the financial activities of Ikeja Hotel, Plc and her said subsidiaries.