Wednesday, 12 April 2017

Suspect flees as whistle-blower exposes N4bn in secret accounts

The Economic and Financial Crimes Commission says it has stumbled on two bank accounts containing a joint sum of N2bn suspected to be the proceeds of
crime.

The EFCC said in a statement by its spokesman, Mr. Wilson Uwujaren, that the money belongs to a former deputy governorship candidate in Niger State.

The commission, however, did not reveal the identity of the candidate.

According to the anti-graft agency, the money was found based on a tip-off from a whistle-blower.

The EFCC added that the suspect was on the run as well as the account officer who was in charge of the accounts.

The statement read in part, “A tip-off by a whistle-blower on Tuesday led to another discovery by the EFCC of a staggering sum of N4bn suspected to be proceeds of crime. Investigations as to the owner of the funds revealed that the money belongs to a former deputy governorship candidate in Niger State.

“The suspect used the names of two companies – Katah Property & Investment Limited and Sadiq Air Travel Agency – in laundering the funds. Each of the company has N2bn fixed in its deposit account domiciled in Guaranty Trust Bank.

“The suspected owner of the account and the account officer are currently on the run.”

Babangida Aliyu, and some other key members of his administration.

Aliyu, who ruled between 2007 and 2015, was accused of an alleged N5bn scam as well as other alleged cases of fraud.

It will be recalled that the current Governor of Niger State, Alhaji Abubakar Bello, as well as members of the House of Assembly had called for a probe of Aliyu’s administration which they described as fraudulent.

Bello said there were several questionable transactions the former administration must account for.

The discrepancies, according to him, were discovered by the financial management committee set up by his administration, lamenting that one of such discrepancies was discovered in the state and local government joint account where a massive fraud was perpetrated.

Bello said, “We instituted a financial management committee to look at all major financial transactions of the state and local governments from May 2007 to May 2015.  The committee has made substantial progress and the findings are quite revealing.

“A review of the operations of some of the major bank accounts of the state and the Local Government Joint Accounts Allocation Committee over the last eight years revealed some despicable patterns such as huge cash withdrawals by government officials, private individuals and PDP officials and members.”



SOURCE

9 comments:

  1. Stupid people. "...However, the EFCC did not disclose the name of the person." Sorry, EFCC are liars! Prove it to Nigerians if it's true. You arrested a 6 year old son of your victim last week, why can't you arrest even the wife of owner of the fund?

    All of a sudden, the rejected Magu have been zoroicly discovering funds everywhere, even the ones hidden inside pot of soup! All these discoveries are for the show, to make people believe the WB'ing attractive and to justify himself the best choice for EFCC.

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  2. EFCC named the former governor of Niger being investigated but not the former deputy governorship "aspirant" being investigated. They named the bank but not the account officer. The truth is that they dont have this information and yet they have run to press. Once again they are on their media show. They surely should have finished investigation before going to press. Magu in his desperation to keep his job is showing his incompetence. This is why they loose cases and tell us that the judges are receiving bribes.

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  3. The reason why EFCC loses cases is that they hardly gather proper information and facts before coming to the press, and the suspect can get every information about what EFCC knows or does not know from the press. Now, in developed countries, u do not just have money in accounts, u have to posses proof of legally owning that money and that burden of proof falls on the suspect and u have to have paid taxes on that money, u don't just have 2 billion naira in ur account without the Federal inland revenue coming for their own share, but in nigeria, anyone can have money stored in the bank like Patience JOnathan, without any proof of how she legally possessed the cash and without paying tax on it and the foolish courts would free her and the cash

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  4. The next EFCC chairman will do a better job of corruption campaign than the former Acting EFCC chairman, Mallam Ibrahim Magu. Mallam Magu must vacate the office for the next EFCC chairman. The next EFCC chairman must not keep a list of the untouchables like OBJ, atiku, Amechi, Fayemi, ibb, Okorocha, Oshiomole, Tinubu etc.
    We must recover all looted money from the looters.

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  5. $9m here, N4bn there..INEC ...staff culpable for N3bn plus fraud.....its all adding up...TSA all building up...whistle blowing catching on....not gonna be easy....win some, lose some...but all thanks all the same to EFCC!

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  6. Whistle-blowing, the easiest way to make money NOW. As a bank worker, if you happen to know of an account habouring millions of dollars or billions of Naira, chances are they are proceeds of looted funds hidden by some politicians. They could also be proceeds of drug trafficking. Simply intimate EFCC while protecting your identity. When the money is recovered, you are guaranteed 20% of it, for keeps and spending. Go, go for it.

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  7. All well said. EFCC should have told us the name of the Account Officer. EFCC should have done its research and investigation very well. The sudden discovery of funds is also coincidental. I have said it times without number. Nigeria does not need any 'strongman' in any position. We only need 'strong institutions'. Magu is not indispensable. Baba should look for a replacement. These magical discoveries of slush funds are just too convenient.

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  8. Thank God we are beginning to realize the EFCC is doing a shoddy job.... Our senior lawyers have seen the loop holes in the EFCC that is the reason they are always ready to defend this corrupt politicians and we keep blaming them. The EFCC should realize that the evidence act is what these judges rely on to deliver judgment and not the opinion of fellow Nigerians on this platform.

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  9. Fed govt has created a new business. 5% for whistle blower and 2.5% to EFCC staff for money recovered. Today people are blowing whistle on any cash movement/lodgement and EFCC is seizing monies without first establishing their owners and that they are proceeds of crime. Monies have been seize from BDCs without established cases of crime. This has to be checked before we wreck our country and economy with the greed of some people.

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