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N23.2bn Poll Bribery Cash: EFCC Traces N400m to Governor’s Hotel, Others’ Accounts

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Achike Udenwa
  • N23.2bn Poll Bribery Cash: EFCC Traces N400m to Governor’s Hotel, Others’ Accounts

The Economic and Financial Crimes Commission (EFCC) has traced N400 million poll bribe cash to the accounts of some firms and a charity organisation allegedly owned by the Governor of Ebonyi State, Engr. David Umahi.

The accounts are those of Osborn La-Palm Royal Resort Ltd and Brass Engineering & Construction Nig. Ltd and David Umahi Faith Foundation.

The Deputy Governor of the state, Fidelis Nwankwo and a former minister, Ambassador Frank N. Ogbuewu, were also said to have admitted collecting the cash.

They were said to have admitted that based on the instructions of the governor, the N400 million was handed over to a branch of Access Bank in Abakaliki.

There were indications last night that the EFCC might seal off all the companies implicated in the bribery scandal.

Only the sum of N90 million of the said sum was said to have been refunded.

The N400 million was the sum allocated to the Peoples Democratic Party (PDP) in Ebonyi State out of the N23,299,705,000 slush funds provided by the immediate past Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

According to findings made by our correspondent, the anti-graft agency was able to establish that the governor was central to the allocation of the N400 million and the coordination of its disbursement.

The funds were later wired into the accounts of the two firms and the charity organisation.

Investigation confirmed that the companies were incorporated by the incumbent Governor of Ebonyi State in 1993 and 2011 respectively.

A reliable source said: “In the state, Kelechi Igwe (incumbent deputy governor), Fidelis Nwanwko and Ambassador Frank N. Ogbuewu collected the money to prosecute the 2015 general election.

“Fidelis Nwankwo and Ambassador Frank N. Ogbuewu were invited and they disclosed that they collected the N400 million from Fidelity Bank and handed it over to Access Bank on the directive of the then Deputy Governor, Engr David Umahi, who is now the incumbent governor.

“The Operations Manager of Access Bank Abakaliki was invited, and he revealed that the money was paid into the accounts of Osborn La-Palm Royal Resort Ltd and Brass Engineering & Construction Nig. Ltd. domiciled in Abakaliki.”

It was learnt that detectives traced the N400 million to the accounts of the two companies and Umahi Faith Foundation.

Analysis of the accounts indicated that while N300 million was paid into the account of Osborn La-Palm Royal Resort Ltd, N100 million was remitted into the account of Brass Engineering & Construction Nig. Ltd.

The N100 million in the account of Brass Engineering & Construction Nig. Ltd was later transferred to David Umahi Faith Foundation.

The detectives later uncovered how the funds were subsequently withdrawn by one Chinyere Egwuche in tranches of N50 million.

Another source said: “The movement of the fund from one account to another and the subsequent cash withdrawal of N300 million in tranches of N50 million are clear features of money laundering .

“Consequently, letters of invitation were written to the Managing Directors of the companies where the money was paid but the letters were returened undelivered as the addressees refused to collect them.

“Thereafter, Austin Umahi, Maxwell Umahi, Chinyere Egwuche and Mabel Dikibo were arrested. Investigation revealed that Chinyere Egwuchu and Mabel Dikibo were the signatories to the accounts of the companies.

“It was also discovered that one of the suspects, Chinyere, withdrew the N300 million paid into the account of Osborn La-Palm which, according to her, was used to further the construction of Osborn La-Palm hotels in Abakaliki, Uburu and Port Harcourt.

As at press time, the three key suspects, who were arrested and grilled, had been released on bail.

But the EFCC was able to recover N90 million out of the N400 million.

It was learnt that while the properties of the two indicted companies have been tagged as “Under Investigation,” the EFCC may soon seal off the assets if the suspects do not refund the poll bribe cash.”

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

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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Netanyahu

Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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