EFCC sends team to Port Harcourt, Yenagoa over four other choice assets linked to ex-First Lady
•May forfeit alleged properties to Federal Government
•Four accounts containing $19m to remain frozen
•Commission insists Mrs. Jonathan must explain source of fund
Former First Lady, Dame Patience Jonathan appears to have more explanation to make to the Economic and Financial Crimes Commission (EFCC) besides the $19 million just frozen in her accounts.
Mrs. Jonathan has just been linked with five choice properties including a N5billion hotel in Abuja.
The EFCC is currently studying documents on how the Abuja hotel (names withheld) was built.
It has also dispatched a team of investigators to Yenagoa, Bayelsa State and Port Harcourt, Rivers State for the purpose of establishing the ownership of four properties in the two cities.
The anti-graft agency is likely to confiscate the five properties once it is able to confirm that they belong to Mrs. Jonathan.
One of the pieces of evidence the EFCC has in its possession in its probe of the ex-First Lady is her cumulative pay and perks as a civil servant in Bayelsa State where she rose to the post of Permanent Secretary.
Sources said the pay details are far below the $31million which the ex-First Lady claimed as her legitimately earned money.
The EFCC is insisting that Mrs. Jonathan must account for how she came about the cash wired into the five accounts to which she is a signatory or forfeit it to the Federal Government.
One of the sources familiar with the probe said the money used in acquiring the properties under investigation appears to be gratification to Mrs. Jonathan when her husband was in power.
The source said: “Based on intelligence report, we have isolated five properties allegedly identified with the ex-First Lady. These properties include a N5billion hotel in Abuja and four others in Yenagoa and Port Harcourt.
“A special team has gone to verify all these assets in the affected areas including the contractors engaged, the mode of payment to them, relevant land registration documents, and associates used as fronts.
“In the next few days, we will start questioning all those involved in the acquisition or building of the assets. We are lucky that this investigation has a lot of e-transaction and computerization components. There is no hiding place for anyone involved.
“If at the end of the day the five assets belong to the ex-First Lady, we will approach the court to place all these assets under Interim Assets Forfeiture in line with Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004.”
Section 28 of the EFCC Act stipulates that: “Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach all the assets and properties of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.”
Section 13 of the Federal High Court Act reads in part: “The Court may grant an injunction or appoint a receiver by an interlocutory order in all cases in which it appears to the Court to be just or convenient so to do.
“Any such order may be made either unconditionally or on such terms and conditions as the Court thinks just.”
Responding to a question, the source said: “If our investigation reveals that the assets are not owned by Mrs. Patience Jonathan, we will return them to their legitimate owners.”
The EFCC is not about to defreeze Mrs. Jonathan’s accounts under investigation.
“We have retrieved documents on the pay package and monetized perks of Mrs. Patience Jonathan when she was a Permanent Secretary in the government of Bayelsa State. Her total emoluments do not tally with the funds remitted into the five accounts,” an EFCC source said.
“She owes us a duty to explain how she came about these funds. Our investigation showed that the funds came from gratifications; it is left to her to prove otherwise.
“The good thing is that the ex-First Lady was the one who sued EFCC demanding the release of her $31million. She has a duty as a former public officer to explain how she earned the funds. Did she declare these funds in her Assets Declaration Form as a Permanent Secretary?
“We are happy that the case is in court and the onus is on her to prove ‘beyond reasonable doubt’ that she is the owner of the funds. If we had initiated the action, some people by now will be accusing EFCC of witch-hunt.
“But she went to court to exercise her rights under the law. The same law demands that you must seek equity with clean hands. I think the press should take more than a passing interest in what is going on in the court.”
The anti-graft agency claimed last week that it has established a prima facie case of money laundering against the ex-First Lady and 10 others.
The 11 suspects may face trial for money laundering if the recommendation of the investigative team is upheld.
The EFCC declared that “preliminary investigation has also indicted Mrs. Patience Jonathan.”
The other 10 suspects indicted by the investigative team are a former Senior Special Assistant ( Domestic / Household and Social Events to the former President), Dr. Dudafa Waripamo-Owei Emmanuel; Damola Bolodeoku; Dipo Oshodi; Theodora Varinik; Pluto Property and Investment Company Limited; Seagate Property Development and Investment Limited; Globus Integrated Services Limited; Trans Ocean Property and Investment Company Limited and Skye Bank Plc. The report said in part: “Based on the investigation so far carried out, it has revealed that the four fraudulent VISA Platinum USD Card accounts used by Mrs. Patience Goodluck Jonathan has a cumulative balance of $14,029.881.79 which has been swept Post No Debit Card category.
“Again, her personal account, different from the four fraudulent VISA Platinum USD Card accounts, bears the balance of $5,841,426.17.
“Considering the above stated findings, we can safely conclude that a prima facie case of conspiracy to retain proceeds of unlawful activities, retention of the proceeds of unlawful activities, money laundering contrary to Section 15(3) and 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and forgery contrary to Section 1(2) (c) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation, 2004 have been established against the aforementioned suspects.”
Also, Mrs. Jonathan has admitted that she is the owner and signatory to the five accounts in which the Economic and Financial Crimes (EFCC) found over $22.3million.
She said she has never received any monies from any unknown sources paid into the five accounts.
But she was silent on the sources of the cash wired into the affected accounts.
She however explained that the accounts were opened to facilitate her travel overseas particularly for medical treatment, sundry purchase for herself and her late mother Mrs. Charity Oba (Mama Sisi).
She indicted Wampemo-Owei Dudafa who was the Special Adviser on Domestic Affairs to the former President Dr. Jonathan, and Skye Bank officials for registering phony companies for four of the five accounts.
A statement by her Media Office said: “Sometime in 2013, following the advice of top officials of the EFCC then in the company of Wampemo-Owei Dudafa who was the Special Adviser on Domestic Affairs to the former President Dr. Jonathan, that she should not travel oversees with cash otherwise she may contravene Money Laundering laws, Mrs. Patience Jonathan agreed to open accounts with Skye Bank Plc and directed Dudafa to see to it.
“Dudafa came with two bank managers (Officials) of Skye Bank Plc with the account opening forms which she duly signed.
“These accounts were all dollar based Platinum Visa cards in respect of five accounts.
“When the bank officials brought the ATM cards for the said accounts of which she is sole signatory, she discovered to her surprise that only one of these accounts bore her personal name while four were in the names of companies not known to her.
“She immediately complained about this anomaly to Dudafa and the bank officials, Demola Doledeoku and Dipo Oshodi came back to the villa with forms to change and convert the said accounts to the personal name of Mrs. Jonathan.
“This was her firm request which the bank officials promised to effect immediately and she duly completed account conversion forms and signed the mandate forms as a the sole signatory, but as it would appear, the said bank officials did not change the Account names despite her request.
“It was in 2014 or thereabout that she was given the ATM cards for all the five accounts with the bank officials promising to exchange the cards for the four reflecting her correct names. This again, the banks officials failed to do despite her repeated request.”
EFCC Finally Arrests Okorocha After Hours of Siege, Gives Reason
The Economic and Financial Crimes Commission (EFCC) has finally arrested the All Progressives Congress’ presidential candidate and former governor of Imo State, Rochas Okorocha after laying siege on his residence for hours.
Security operatives attached to the EFCC had surrounded the residence of the former governor earlier on Tuesday and before they finally arrested him late in the evening.
Investors King can confirm that lots of gunshots and tear gas canisters were fired to disperse angry supporters of the lawmaker who tried to resist the arrest before he was finally arrested.
According to an official of the anti-graft agency, Okorocha will be taken to the headquarters of the commission where he will be until May 30 when he will be arraigned in court.
In an official statement obtained by Investors King, signed by the EFCC spokesperson, Wilson Uwujaren, “the move to arrest Okorocha was followed by the refusal of the former governor to honour invitations after jumping the administrative bail earlier granted him by the Commission.
“EFCC had on January 24, 2022, filed a 17-count criminal charge bordering on diversion of public funds and properties to the tune of N2.9bn against Okorocha.
“The case was assigned to Honourable Justice Inyang Ekwo of the Federal High Court, Abuja but attempts to arraign Senator Okorocha was twice stalled owing to the absence of the ex-governor who evaded service of processes”.
EFCC added that at the last adjourned date, March 28th 2022, Justice Ekwo, before adjourning until May 30th, 2022, had warned that it was “the last adjournment I shall grant in this matter”.
“In the circumstances, the Commission is left with no option but to effect the arrest of Senator Okorocha and bring him to trial”, the statement had read.
Russia Halts Supply of Gas to Finland, Disagrees on Payment Mode
Russia’s majority state-owned multinational energy corporation, PJSC Gazprom, on Saturday, halted gas exports to one of its neighbouring countries, Finland, in the latest escalation of an energy payments dispute with Western nations.
A statement released by Finland’s gas system operator, Gasgrid said: “Gas imports through Imatra entry point have been stopped.
“Starting from today, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline”.
Investors King gathered that majority of the European supply contracts are denominated in Euros or Dollars and Moscow already cut off gas to Bulgaria and Poland last month after they refused to comply with the new payment terms.
Imatra is the entry point for Russian gas into Finland and even though majority of the gas used in Finland comes from Russia, gas only accounts for about five per cent of its annual energy consumption.
Gazprom Export has requested that European countries pay for Russian gas supplies in Russian currency (roubles) because of sanctions imposed over Moscow’s invasion of Ukraine, but Finland refuses to do so.
Gazprom Export, on Friday, said: “flows would be cut because Gasum had not complied with the new Russian rules requiring settlement in roubles.”
Earlier on Friday, the Finnish state-owned gas wholesaler, Gasum had said the Russian Gazprom warned that flows would be halted from 04:00 GMT on Saturday morning.
The decision is coming at a time when Finland and Sweden announced that they were going to join the North Atlantic Treaty Organisation (NATO) military alliance, a decision inspired by Russia’s invasion of Ukraine.
Last week, the Finish Prime minister, Sanna Marin had said: “When we look at Russia, we see a very different kind of Russia today than we saw just a few months ago.
“Everything changed when Russia attacked Ukraine. And I personally think that we cannot trust anymore that there will be a peaceful future next to Russia.”
Marin noted that joining NATO is “an act of peace [so] that there will never again be war in Finland in the future”.
According to Swedish leader Andersson, “to ensure the safety of Swedish people, the best way forward is to join NATO together with Finland”.
The announcements were met with support from leaders in almost all NATO nations.
US Secretary of State, Antony Blinken told reporters that the United States would strongly support the NATO application by either Sweden or Finland should they choose to formally apply to the alliance.
Investors King recalls that Russia had in April, announced the suspension of gas supply to Poland and Bulgaria on the same payment disputes.
FG Resumes Conditional Cash Transfer Programme Across Six Local Govt. In Kebbi
The Federal Government has resumed the Conditional Cash Transfer (CCT) programme in Kebbi State, commencing with a payment of N9.24bn to 76,107 CCT beneficiaries.
The National Coordinator of the programme, Hajiya Halima Shehu, made the announcement during a state visit to Governor Atiku Bagudu in Birnin Kebbi.
“As at now, payment to CCT beneficiaries is ongoing in the state. A total number of 76,107 beneficiaries across six local government areas of Bagudu, Danko, Wasagu, Dandi, Jega, and Shanga, will be receiving the payment. The beneficiaries will be receiving 26 months of payment circles, starting from January to February 2020.
“The payment will be in two batches of those 60,000 beneficiaries for four payment cycles, using the virtual account. The second batch has 70,107 beneficiaries for nine payment cycles through the debit cards. The total amount for the two batches in the state, according to Shehu, was over N9.24 billion.
“The Federal Government of Nigeria, in partnership with the World Bank in 2016, designed and developed a safety net programme for Nigeria under the platform of National Social Safety Net Programme (NASSP).
“One of the components of NASSP is the national conditional cash transfer office responsible for implementing the household uplifting- conditional cash transfer to the poor and the vulnerable households across the country,” she said.
Shehu commended the governor for providing her an audience and the chance to update him on the commencement of payments and the state’s successful implementation of the program.
Responding, Gov. Bagudu, represented by his Deputy, Alhaji Samaila Yombe-Dabai, thanked the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, headed by Hajiya Sadiya Umar-Farouq, for actualising the programme in the state.
“I assure you that the state government will do all it takes to support the success of the programme in the state.
“We are looking forward to getting more local governments to be involved in the cash transfer programme,” Bagudu said.
Finance3 weeks ago
Dollar to Naira Today Thursday, 5 May 2022
Finance4 weeks ago
Kigali to Host the Commonwealth’s Landmark African Anti-corruption Conference
Banking Sector4 weeks ago
FirstBank Wins Best Bank in Nigeria and Best Bank in Digital Transformation Nigeria 2022
Banking Sector3 weeks ago
FY 2021: Unity Bank Grosses N50.28bn in Earnings and N3.33bn in Profit
Banking Sector3 weeks ago
World Earth Day 2022: Unity Bank, RESWAYE Clean Lagos Beach, Plant Trees
Investment2 weeks ago
72% of North American Quant Fund Managers Struggle to Access High Quality Data
Banking Sector3 weeks ago
FirstBank Goes Beyond Banking, Reiterates Commitment To Healthcare Via Pharmacy Credit Facility, Hospital Loans
Banking Sector3 weeks ago
Fidelity Bank Announces 29% Increase in Gross Earnings in Q1 2022