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$15m Scandal: EFCC Summons Patience Jonathan’s Security Aides

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The Economic and Financial Crimes Commission has summoned some officials of the Department of State Services, who were attached to Dame Patience Jonathan, the wife of former President Goodluck Jonathan, for interrogation.

It was learnt on Friday that the invitation was part of investigations into the $15m frozen in four company accounts, which Patience had laid claim to.

Sources in the EFCC told our correspondent that a letter had been written to the DSS, requesting that the officials be allowed to honour the anti-graft agency’s invitation.

A detective told our correspondent that the commission had evidence that the DSS officials had, on several occasions, deposited money into some of the accounts in Skye Bank between 2013 and 2015.

The source said, “The $15m, which we have frozen in the four company accounts was not paid into the accounts at once. The money was paid into the accounts over a two-year period.

“However, we have evidence that it was DSS officials attached to Jonathan’s wife that deposited the money. We have gathered bank documents and we have invited them for interrogation.”

When asked why Patience had not been invited by the EFCC, even after she had openly laid claim to the money and dared the anti-graft agency to invite her for questioning, another source told our correspondent that it was because the commission was trying to build a solid case.

The source said, “We will not like to exchange words with her on the pages of newspapers. She says the money belongs to her but she has no evidence to show that she owns the money except the fact that she was given platinum cards to use in withdrawing money.

“Possessing an ATM card of an account that does not bear your name, signature or credentials does not give you the legal right over that account. We froze the accounts as part of investigations into a money laundering case.

“We are still investigating and we may invite her based on the outcome of investigations. We are still trying to build a solid case.”

The EFCC had stumbled on four company bank accounts in Skye Bank while investigating a former Special Adviser to Jonathan on Domestic Affairs, Waripamowei Dudafa.

The names of the four companies are: Pluto Property and Investment Company Limited; Seagate Property Development and Investment Company Limited; Trans Ocean Property and Investment Company Limited; and Globus Integrated Service Limited. The joint balance of the accounts, as of the time it was frozen, was said to be $15, 591,700.

The four companies standing trial before a Federal High Court in Lagos have since pleaded guilty to money laundering.

Jonathan’s wife has, however, accused the EFCC of hiring mercenaries as directors of the company in an attempt to steal her hard-earned money.

Patience, who has sued Skye Bank for N200m, also has another account under the name ‘Patience Ibifaka Jonathan’ in the bank, which had a balance of $5m. The account was, however, not frozen by the commission.

In the suit filed by Patience, while laying claim to the $15m, which is the subject of prosecution of Dudafa and others, one Sammie Somiari, who deposed to an affidavit on behalf of Patience, claimed that Dudafa helped Patience to open the bank accounts in 2010.

According to him, Dudafa had on March 22, 2010, brought two Skye Bank officials to meet Patience at home to open five accounts.

The deponent claimed that Patience was the sole signatory to the accounts.

in scandal He, however, claimed that after the five accounts were opened, Patience later discovered that Dudafa opened only one of the accounts in her name while the other four were opened in the names of companies belonging to Dudafa.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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President Buhari Accuses Governors of Stealing LG Funds

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Muhammadu Buhari

Nigerian President, Muhammadu Buhari has once again accused state governors of stealing monthly allocation due to local government under them.

The president spoke at a parley with members of the Senior Executive Course of the National Institute for Policy and Strategic Studies, Kuru, held at the State House Banquet Hall, Abuja.

Speaking at the event, the president stated that it beats anyone’s imagination how some governors collected money on behalf of council areas in their states, only to remit just half of such allocation to the council chairmen, who would further deplete the remittance by filching it. Investors King learnt. 

 ‘‘I found it necessary to digress after reading my speech and this digression is a result of my personal experience. What they did, this is my personal experience, if the money from the Federation Account to the state is about N100m, N50m will be sent to the chairman, but he will sign that he received N100m. The governor will pocket the balance and share it with whoever he wants to share it with,” the president narrated. 

‘‘This is what’s happening. This is Nigeria. It’s a terrible thing; you cannot say the person who was doing this is not educated. He was a qualified lawyer, he was experienced, yet he participated in this type of corruption.” he queried. 

Furthermore, the president clarified that state governors and local government chairmen should be held responsible for the underdevelopment in the rural areas noting that most of the local governments lack basic amenities. 

Similarly, the National Union of Local Government Employees on Thursday backed the position of the president on the embezzlement and mismanagement of local government funds.

Responding to Buhari’s position, the  President of the Nigeria Union of Local Government Employees (NULGE), Hakeem Ambali, said Buhari was merely stating the obvious.

The NULGE President nevertheless admonished the president to go beyond the statement and ensure governors, especially those in APC to sign the local government autonomy bill into law.  

“He should go beyond that statement. He is the leader of the party, he should ask them to sign the autonomy into law; he is the leader of the governors,’’ he said.

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Ramaphosa Braces for Calls to Resign Over $580,000 Theft at Farm

The panel found the president may have violated sections of the constitution following a theft of $580,000 that was stashed in a sofa at a game farm he owns.

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Cyril Ramaphosa

South African President Cyril Ramaphosa’s allies are steeling themselves before a meeting of the governing party’s top leaders at which he’s likely to face calls for his resignation.

The African National Congress’s National Executive Committee will on Thursday discuss the findings by an advisory panel that there may be a case for Ramaphosa’s impeachment. The panel found the president may have violated sections of the constitution following a theft of $580,000 that was stashed in a sofa at a game farm he owns.

The release of the panel’s report on Wednesday night triggered a slump in the rand. The NEC meeting is scheduled to start at 7 p.m.

Party officials met with the ANC’s chief whip and the speaker of parliament to discuss the report on Wednesday, according to people familiar with the matter. A group of NEC members sympathetic to Ramaphosa held a meeting of their own, said the people who asked not to be identified discussing private party matters.

Pule Mabe, the ANC’s spokesman, didn’t immediately respond to a request for comment sent by text message.

Resignation Option

The meeting of Ramaphosa’s supporters was called by Minister in the Presidency Mondli Gungubele. Two NEC members who are close to Ramaphosa expressed concern that the president may opt to resign — a replay of what happened in June when the scandal over the game-farm theft first erupted and he took advice on whether or not he should quit.

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Ibom MRO to Bring in Forex to Nigeria 

Akwa Ibom State to open a cutting-edge smart terminal building at the Victor Attah International Airport

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The governor of Akwa Ibom State, Governor Udom Emmanuel, has announced that the state is close to opening a cutting-edge smart terminal building at the Victor Attah International Airport and that this will generate foreign exchange for Nigeria. 

Investors King has also learnt that an MRO facility for aircraft would be operational from January.

This comes on the heels of praise from his Edo State counterpart, Gov. Godwin Obaseki, who attended the Tuesday reception in Uyo for two additional A320-200 Airbus aircraft that the state’s Ibom Air fleet had leased from a European company.

Speaking at the event, the governor of Akwa Ibom said that while there were already efforts underway to persuade the government to lease the MRO, the MRO is an investment because it was built with naira, despite its current depreciation, and will therefore generate income.

The Akwa Ibom governor said “Our terminal building is world-class in Africa, our MRO is world-class. If you find one today in the entire Gulf of Guinea, tell me I’ll disassemble this one and build another.

“Look at our MRO; what you see here can accommodate two 747 aircraft as well as eight CRJ aircraft, which we are flying for servicing at the same time.”

“This is the only MRO in this part of the world today, and these facilities are not built with local currency, but we are building this MRO with naira that has no value.”

“I invest in areas where we can see a return on our money. Right now without blinking an eye, I can make over $ 30 million with this MRO if we decide to sell but we are not selling, we will make a foreign exchange from this investment.

“Airbus is on us to come and lease our MRO for all their regional flights, but we are not selling.

“We are going to open up this place ( MRO facility) from January next year for commercial activities and we are going to earn in dollars.”

He thanked Ibom Air’s Board of Directors, Management, and Staff for making him proud, emphasising that “they have done very well.”

Gov. Obaseki, who spoke at the event, stated that Akwa Ibom has become the country’s flagship state for its efforts to invest in and make significant strides in the aviation sector.

Obaseki described Akwa Ibom as the country’s flagship state for its efforts to invest in and expand the aviation sector. “Ibom Air is always completely booked.” Let me thank you on behalf of Nigerians,’’ Obaseki said.

In his remarks, the Managing Director of Ibom Airlines., Mr Mfon Udom announced plans to begin regional flights in 2023.

Udom said the new addition to the fleet of Ibom Air would expand its carrying capacity and boost employment opportunities in the state by 40 per cent.

“With this new capacity coming on board, we are delighted to inform our passengers that we have increased our offerings, providing more frequencies for their convenience.

“The Uyo-Lagos and Uyo-Abuja routes now have three frequencies each every weekday, while our Lagos-Abuja passengers will have seven frequencies to choose from both ways, every weekday,’’ he said.

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