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Tag: EFCC

  • Ibori’s $15m bribe sum: EFCC arrests businessman, begins fresh probe

    Ibori’s $15m bribe sum: EFCC arrests businessman, begins fresh probe

    •More suspects to be nabbed

    The Economic and Financial Crimes Commission (EFCC) yesterday arrested a businessman, Mr. Chibuike Achigbu, in connection with a $15 million bribe allegedly offered a former chairman of the commission, Mallam Nuhu Ribadu, by ex-Governor James Ibori.
    Following the conviction of Ibori by a UK Court, the Delta State Government had gone to a Federal High Court to apply for the return of the bribe sum which is being kept with the Central Bank of Nigeria(CBN).
    But Achigbu initially filed an application on August 29 before a Federal High Court claiming that  the money belongs to him.
    He said he gave the money to a former presidential aide, Dr. Andy Uba, to finance the  Peoples Democratic Party (PDP) during the 2007 elections.
    Barely 72 hours after filing an application for the return of $15 million bribe sum to him, he made a U-turn by withdrawing the matter.
    The withdrawal made the EFCC to launch a full-scale investigation into how the bribe sum came about and the sponsors of the botched suit.
    According to a reliable source in the commission, the embattled businessman was arrested in Lagos on Thursday and flown to Abuja for interrogation.
    The source said: “The suspect, who was interrogated for many hours, has made a useful statement to our investigators, which could lead to how the $15 millon bribe was offered.
    “It is obvious that some forces were using Achigbu as a shield  over the bribe sum. We hope to effect more arrests on the curious suit.
    “If you look at the affidavit sworn to by the businessman, it contained many revelations which require in-depth  probe.”
    As at press time, it was gathered that although  the businessman had been granted bail, he was yet to meet the terms.
    The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, confirmed the arrest and grilling of Achigbu.
    “We have started investigation on issues that we feel he should clarify,” he said.
    Following the withdrawal of the case, the Congress for Progressive Change had insisted on a fresh probe of the $15 million donation.
    In a statement by the National Publicity Secretary of the party. Eng. Rotimi Fashakin, the CPC asked the EFCC to probe alleged donation of the $15 million to the PDP.
    “The Congress for Progressive Change (CPC) is appalled by the controversy generated by the alleged $15 million bribe money (currently in the custody of the Central Bank of Nigeria) offered to the former Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu in 2007 by the former Peoples Democratic Party (PDP) Governor of Delta State, Chief James Ibori.
    “With the formal conviction and subsequent incarceration of Chief James Ibori (for money laundering offences) by a British Court, the need for  proper disposal of the money became a front-burner issue.
    “Understandably, the Delta State Government showed up as the rightful owner since the money was purloined from it by Chief James Ibori, in his capacity as the then substantive governor.
    “Whilst the matter was pending in court, a Nigerian business man, Mr. Chibuike Achigbu, stepped forward as the authentic owner. In a deposition, filed by a team of ten lawyers (including three Senior Advocates of Nigeria), Achigbu averred, inter-alia, that he raised the money for the purpose of donating to the electioneering campaigns of the PDP in the 2007 general elections.
    “Furthermore, the money was allegedly given to Dr. Andy Uba, the then Senior Special Assistant on domestic Affairs in a PDP Presidency and now a PDP Senator, for the purpose of authenticating (with the EFCC) its suitability for donation.
     “Uba was alleged to have passed the money to  Mr. Ibrahim Lamorde, the then Director of Operations of EFCC and now the substantive Executive Chairman.
    “As a party, we view the portent of this latest twist to the bribe money saga as foreboding for the fight against institutionalised corruption in the Nigerian polity.
    “Section 7(1)b of the EFCC Act 2004 states: ‘The Commission has power to cause investigation to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by the source of income.’
    “ This twist to the saga  has thrown up some questions:
    •    Does the EFCC Act empower the Commission to authenticate the suitability of a donation to a political party?
    •    Does the EFCC not have sufficient powers to investigate Mr. Chibuike Achigbu with a view to ascertaining the source of his income vis-à-vis justification for making such huge donation?
    •  Should the EFCC not investigate Senator Andy Uba as the locus in the latest controversy of the alleged bribe money?
    •  With the EFCC Chairman Ibrahim Lamorde’s name mentioned in the deposition, should he not tell the Nigerian people all he knows about this case?
    •  Has this deposition by an acolyte of a serving PDP Senator not exposed the ruling party as mostly responsible for the festering corruption in the Nigerian state?
    “The unexplained illegal jerking up of the expenditure for the 2011 fuel subsidy from N240 billion to N2.67 trillion is part of the continuing story of PDP’s unsuitability for the electoral trust of the Nigerian people.
    “As a Party, we owe it a sacred duty to the Nigerian people to expose the infra-dig in the polity for the purpose of ensuring its sustainable growth.”

  • Why investigation in banking is impeded, by EFCC chair

    Economic and Financial Crimes Commission (EFCC) chair Mr. Ibrahim Lamorde yesterday said some unethical practices in banking are undermining the economy and the commission’s investigations.

    He said it was time to flush out those who do not have business being in the banking sector.

    Lamorde spoke when officials of the Chartered Institute of Bankers of Nigeria (CIBN), who were led by the Institute’s President and chairman of council, Mr. Segun Aina, visited him at work.

    Lamorde listed such unethical practices, which he said have negatively impacted on Nigeria ’s record in the fight against economic and financial crimes, as “secrecy surrounding private banking, doctoring or non disclosure of true position of statement of accounts of suspicious account holders and non-compliance with the Know-Your-Customer, (KYC) principle.

    He described as unfortunate, a situation where banks fail to disclose the identities of some people under investigation by the Commission.

    A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, quoted Lamorde as saying: “If you send letter to the bank to avail you the details of such account, the reply you will get is that such account does not exist.

    “If you insist, then you will be told that such records are not on the front desk, that it is only the managing director or the deputy managing director that manages the account, this is not a healthy banking development”, he declared.

    “It is in our own interest that the banking system continues to get better. Those who don’t have business being in the banking industry should go”, he said.

    “We want our society to be better. Nobody would want to be treated in an unfair manner outside the shores of this country just because he/she is carrying a green passport”, he said.

    Lamorde said the commission appreciates the need for the banks to protect their customers, but he warned that such should not be at the detriment of the society.

    The anti-graft boss however praised the leadership of the CIBN Institute of Bankers of Nigeria for their role in helping to sanitise the banking sector culminating in appreciable increase in professionalism among its members.

    He, however urged them not to rest on their oars.

    The CIBN boss, Aina, hailed the EFCC chairman for the professional manner with which the EFCC under his leadership handles matters.
    He however said the institute believes that the Commission can do better.

    He said although the visit was aimed at discussing areas of collaboration with the EFCC, he said the Commission’s training Institute, the EFCC Academy, will provide a veritable platform for the exchange of knowledge between the CIBN and the EFCC.

    “We can train staff of the EFCC to be acquainted with new trends of banking and to better understand the workings of the banks which will help in the course of investigation of bank fraud”.

    The CIBN president also urged the EFCC to take a second look at the enforcement of the Dishonour Cheque Offences Act.

    He added: “The law is there, but people issue cheques and the cheques get bounced and nothing happens. We want to collaborate with the EFCC to ensure that the law is enforced.”

    On the secrecy associated with private banking, Mr. Aina said private banking is an arrangement where the banks gives special services to some customers who are not expected to join the queue in the banking hall, but pointed out that such accounts should not be shrouded in secrecy.

    “There is no reason why the account of such customers should be made secretive and not be made available to the EFCC upon request,” he said.

    Other executives that accompanied Mr. Aina on the visit were Mrs. Debola Osibogun, 1st Vice President; Deacon Segun Ajibola, second Vice President; Mr. Uche Olowu, National Treasurer; Dr. Uju Ogubunka, Registrar; Mr. Ben Igbokwe, Head, Corporate Affairs and Mrs. Rukayat Yusuf, Assistant Director.