COVER
N1.6bn Fraud: Ex-AGF, Co-defendants Make Refunds to EFCC
By David Torough with Agency report
Former Acting Accountant-General of the Federation (AGF) Anamekwe Nwabuoku yesterday begged a Federal High Court, Abuja to give him more time to conclude the refund of the public funds allegedly siphoned.
Nwabuoku and his co-defendant, Felix Nweke, in the 11-count money laundering charge preferred against them by the Economic and Financial Crimes Commission (EFCC) prayed Justice James Omotosho to suspend their trial to enable them perfect the refund process.
The News Agency of Nigeria (NAN) reports that Nwabuoku and Nweke, a former Deputy Director in the Ministry of Defence are being prosecuted for alleged money laundering offences to the tune of N1.
6 billion.While Nwabuoku is the First Defendant in the charge marked: FHC/ABJ/CR/240/24 dated May 20 and filed May 27 by Ekele Iheanacho, Nweke is the Second Defendant.
They were alleged to have perpetrated the act while Nwabuoku served as the Director of Finance and Accounts in the Ministry of Defence between 2019 and 2021.
Nwabuoku was appointed Acting AGF on May 20, 2022 under ex-President Muhammadu Buhari after Ahmed Idris was suspended as AGF over alleged N109.5 billion fraud.
He was, however, removed in July 2022, few weeks after he assumed office.
Sylva Okolieaboh, a Director at the Treasury Single Account (TSA) Department replaced Nwabuoku as Acting AGF.
Okolieaboh’s appointment followed after report that Nwabuoku was under the radar of EFCC over corruption allegations.
When the matter was called yesterday for the defendants to take their pleas, Nwabuoku and Nweke stepped into the dock.
However, Nweke’s lawyer, Emeka Onyeaka informed the court that there was a new development in the case.
Onyeaka notified the court that his client had taken steps toward settling the matter.
The lawyer said Nweke had made substantial refund of the money traced to him by the anti-graft agency.
“The Second Defendant has taken steps, as there is a communication to the commission via-a-vs the alleged offences on making refund.
“The commission is in receipt of the money and promised to communicate to us,” he said.
Onyeaka said, “Upon being served with the charge on Monday, we communicated with the commission and we are asked to tarry for their administrative procedure.”
He said since substantial amount had been refunded, if his client is arraigned, such action would affect the trial.
He, therefore, prayed the court to grant them an adjournment in order to take further step on the administrative procedure.
Maduakolam Igwe, who appeared for Nwabuoku, aligned with Onyeaka’s submission.
Igwe said his client had equally taken same step and that substantial amount of money had been refunded.
“We have written to the commission on this. The First Defendant has also made some refund.
“May I adopt the submission of my learned friend to tidy up the administrative procedure,” he corroborated.
Responding, counsel to EFCC, Ogechi Ujam acknowledged that the commission was in receipt of a proposal letter.
She said, “However, no negotiation has been made, no settlement has been done and no agreement has been reached by parties.”
According to her, in the circumstance, we urge this honourable court to allow us to arraign the defendants.
“Take a date for arraignment,” Justice Omotosho responded.
After counsel agreed, the matter was adjourned until Oct. 14 for arraignment.
EFCC alleged that Nwabuoku, Nweke, Temeeo Synergy Concept Limited (at large), Turge Global Investment Limited (at large), Laptev Bridge Limited (at large), Arafura Transnational Afro Limited (at large) and other persons (at large) converted funds which are proceeds of unlawful activities to personal use.
The offence is contrary to Section 18 of the Money Laundering Prohibition Act, 2011 as (amended by Act No. 1 of 2012) and punishable under Section 15(2) (b) and (3) of the same Act.
In count two, Nwabuoku, Felix, Temeeo Synergy Concept Limited (at large), between September 2019 and October, 2020 in Abuja, indirectly converted the sum of N262, 602,897.27 (Two Hundred and Sixty Two Million, Six Hundred and Two Thousand, Eight Hundred and Ninety Seven Naira Twenty Seven Kobo).
The money was alleged to have been paid into the Zenith Bank account of Temeeo Synergy Concept Limited (at large), with account number: 1016901286, knowing that the funds constituted proceed of unlawful activity.
The offence, EFCC said, is contrary to Section 15(2) (b) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012), among other counts.
Meanwhile, the former AGF Idris is undergoing trial-within-trial.
Idris was arrested by EFCC in Kano in 2022 following allegations that he fraudulently amassed N109.5 billion through bogus consultancy contracts and other illegal activities, using proxies, associates and family members.
The commission alleged that he laundered the money using real estate investments in Kano and Abuja.
His arrest was ordered by the Minister of Finance, Budget and National Planning in the Buhari-led administration, Mrs Zainab Ahmed.
His trial took a new dimension on Feb. 1, when he told the Federal Capital Territory High Court that EFCC had deceived him to admit to the allegations against him.
The trial-within-trial was ordered by the court following the objection raised by his counsel, Chris Uche (SAN), alleging that his client did not make his statements to the EFCC voluntarily.
He claimed that EFCC told him they wanted to use him to get the Minister of Finance and some governors to receive derivation funds.But a detective with EFCC, Mahmud Tukur denied promising the former AGF leniency in exchange for indicting the former Minister of Finance and others.
Managing Director of the Bank of Industry (BOI), Mr Olasupo Olusi has reaffirmed the bank’s commitment to supporting local manufacturing in Nigeria.Olusi said this when he visited the GU Ebeco facility and inspected ongoing projects at the Nisa Medical and Zeberced Group at the Idu Industrial Layout, Abuja yesterday.
He expressed delight at the progress made so far at the various facilities while commending the chief executives of the organisations, urging them to do more. During the visit to the GU Ebeco, the BOI boss emphasised the importance of job creation and the need for their products to proudly bear the “Made in Nigeria” label.Olusi praised GU Ebeco’s progress over the past seven years, applauding its expansion into a national enterprise with over 1,500 employees and several facilities across the country.“I am very happy with the fact that BOI has supported this enterprise for the last seven years. It is wonderful to see that it has grown.“It employs 1,500 staff, and operates a national distribution system. We are proud of the significant role GU Ebeco is playing in the Nigerian manufacturing landscape,” he said.The BOI boss also commended the loan repayment performance of the company saying it had taken multiple facilities from the BOI. He encouraged other young entrepreneurs to stay focused, while assuring them of BOI’s commitment to supporting them and Nigeria’s industrialisation efforts.Responding Mr Ebere Uzozie, Managing Director of GU Ebeco, expressed his appreciation for the continued support from the BOI.“We are grateful for the Bank of Industry’s backing. Their loans have helped us expand and create lasting change. We now have 34 facilities, and we are debt-free.” We are optimistic the visit will mark a new chapter for the company, and will ensure further growth and partnerships that will contribute to Nigeria’s industrial future,” Uzozie said.at the Zeberced Group, its Managing Director, Mr Aydin Kurt, said that Nigeria had lots of potential and could be the future of the world.While acknowledging the country’s potential in industrialisation, he emphasised the importance of producing locally in Nigeria rather than relying on imports.Kurt also appealed for more collaboration with the BOI to promote industrialisation, create jobs and help grow the economy.“I cannot do it alone. we have to come together and create a synergy to attract different investors to come and also invest in this country.“This is our vision we have a lot to share with you, and thank you once again for visiting our corporations,” he said.Responding, the BOI managing director said that the bank was keen on infrastructure and committed to supporting industrious infrastructure.“This project is very important to us and a critical objective for the county and, in that spirit, we have decided that we will continue to support the proliferation of industrial parts across the nation.Why yours is so unique is because it has a plan for Micro Small and Medium Enterprises (MSMEs) which is very important.“We have a mandate to support that particular segment of our economy because they are the ones that champion job creation and most of the growth of the economy is attributed to them,” Olusi said.The BOI boss thanked Zeberced Group for the opportunity while commending the groups’ vision, energy and optimism to carry the project forward.“We look forward to our partnership. Like I said, we all want to be parts and parcel of this project, we have already given you some money to implement it, and we will see how we can do more.“As you expand we will support, but you have to also show us the job creation numbers, and make sure your goods are branded made in Nigeria,” he said.The News Agency of Nigeria reports that GU Ebeco is a furniture company while Zeberced is a construction company. NAN
By Tony Obiechina, Abuja
Federal Road Safety Corps (FRSC) has unveiled an app to boost efficiency and mitigate the impact of road accidents in the country.Speaking at the event yesterday in Abuja, the Secretary to the Government of the Federation (SGF), George Akume explained that the app was designed to digitalize FRSC operations for effective traffic management.
The SGF who described the current rate of accidents as a great concern to the present administration, urged the FRSC management to involve stakeholders in the implementation of the app to monitor motorists and curb the excesses of FRSC officers and personnel. The Chairman, House Committee on Road Safety, Abiodun Adeshida said the National Assembly was ready to review the 2007 Federal Road Safety Corps Act for more efficient service delivery.The Kenyan Ambassador to Nigeria, Isaac Parashina said African countries have a lot to learn from the FRSC’s experience in addressing the high rate of road crashes across the continent.According to the him, Africans must come together and provide homegrown solutions to address road safety challenges.In his welcome remarks, the Corps Marshal FRSC, Shehu Mohammed stated that the innovation was part of efforts to align with the Renewed Hope Agenda of President Bola Tinubu’s administration on the use of the new technology to strengthen the commitment of road users and enhancing road safety operations.Mohammed said the corps would embark on aggressive sensitization in all motor parks and town hall meetings for stakeholders to key into the new technology.The Director-General of the Federal Radio Corporation of Nigeria (FRCN), Dr. Mohammed Bulama expressed confidence that the new technology would bring sanity to Nigerian roads.Dr Bulama commended FRSC management for the new operational initiative and pledged FRCN’s continued support to every program to reduce death and enhance economic activities in the country.The Acting President, National Union of Road Transport Workers (NURTW), Isa Ore said leaders in the transport sector would contribute to the success of the application in saving lives on the highway.Other stakeholders in the transport sector promised to support FRSC in enforcing traffic laws and protect lives and property on Nigerian roads.
By David Torough, Abuja
Minister of State (Oil) Petroleum Resources Heineken Lokpobiri yesterday denied that the Federal Government is responsible for the Tuesday increase in the price of petrol, saying it is a function of deregulation.The latest hike in the price of petrol has pushed up transport fares by over 50 percent in major cities across Nigeria.
The increase implemented by the Nigerian National Petroleum Company (NNPCL) Retail Management ranges from N855 to N897 per litre, depending on the location from the previous N568-N617. Independent marketers have adjusted their prices to between N930 and N1,200 per litre of petrol.The minister denied FG’s involvement while addressing State House correspondents after a meeting with Vice President Kashim Shettima in Abuja.Shettima had summoned Lokpobiri along with the Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL) Mele Kyari and the National Security Adviser Malam Nuhu Ribadu over the recent hike in the price of petrol.Lokpobiri said, “This sector is deregulated. And we believe that with the availability of products, the price will find its level.“What is important is that the product is available in the country. Between now and weekend, there will be availability of the product across the length and breadth of the country.“We believe that by the time there is availability of the product across the country, the price itself will stabilise.”Mr Ogbugo Ukoha, Executive Director, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said regulatory efforts were geared toward stabilising supply of petrol in the country, which he said would impact positively on stability of price.Okuoha said, “The objective of the regulator is to ensure that there’s increased operating hours from all loading depots; vessels are being cleared promptly and extended hours where safety can permit truck outs as well.“More importantly also is the reinforcement of the support being given to local refinancing, because with increased production there will be higher supply, which will stabilise the price.”Despite making its product available, the Federal Government has not started lifting petrol from the Dangote Refinery.Yesterday, Dangote Group refuted the claim in the media that NNPCL is currently lifting petrol from its refinery and selling at N897 per litre.A statement signed by the Group Chief Branding and Communications Officer, Dangote Group, Anthony Chiejina said the company has not yet finalised any contract with NNPCL.The statement entitled, “NNPC yet to lift our petrol” reads, “Our attention has been drawn to a headline “NNPC lifts Dangote Petrol, sells at N897 per litre” published in the BusinessDay Newspapers of Wednesday, 4 September 2024.“We would like to state that NNPCL has not commenced lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery.“Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise, as we are yet to finalize our contract with NNPCL.“The PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector, hence we cannot determine, fix, or influence the product price, which falls under the purview of relevant government authorities.“We urge the public to disregard the headline as it is misleading and does not represent the true position in this matter.“We are guaranteeing Nigerians of exceptionally high quality petroleum products that will be readily available all over the country.”
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