Money laundering: ICPC steps up probe of Abia State gov, Theodore Orji
By Davidson Iriekpen, 10.09.2008

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has stepped up investigations into money laundering allegations brought against the Governor of Abia State, Chief Theodore Orji.



The ICPC had last month invited and detained the Accountant General of the state, Mrs. Bridget Onyema, for two days and later granted her administrative bail.

The arrest was in connection with a series of petitions sent to the commission on vast sums of money totalling N1.9632 billion million, transferred under the guise of travel estacodes for the governor, his deputy, their wives and families, as well as 23 other persons who swelled the governor's entourage to the World Igbo Congress held in Tampa Bay, Florida, USA, September.

The recent arrest and release of Abia State schedule officer in charge of external transactions, Mr Charles Agbara, it was learnt, was in connection with Mrs. Onyema's inability to produce the formal approval for basing estacode calculations for the governor, his wife and children, the deputy governor, his wife, children as well as their family members.

The petition among other claims is calling the attention of the commission to what it described as a high-level scam perpetrated by the Orji administration in the award of a contract for the construction of Abia Refinery to a non-existent US company for $100 million.

Also a socio-political group, the Abia Elders Forum, has called on the state government to respond to a claim by an Internet news service, which reported that a Memorandum of Understa-nding (MoU) was signed between a delegation of Abia State officials led by the governor and a group known as Nevada Petroleum Resources, Inc. in Tampa Bay, Florida early September 2008.

The Abia Elders Forum said it was curious that while the NNPC was building three new refineries at the cost of N800 billion, the Abia State Government claims, it was constructing a 20,000-barrel capacity refinery at $100 million.

According to the Forum, "Can the Abia State Government show evidence of a refinery licence from the Department of Petroleum Resources as is the case with other state governments? Abians also want to know at what stage the refinery project currently stands."

ICPC's Resident Consultant, Media and Events, Mr. Folu Olamiti, had earlier said it was true that the commission arrested Onyema.

"I can confirm to you that Mrs. Onyema, the Abia State Accountant-General, was arrested by the commission and after her interrogation, she was asked to go and be reporting to the commission," he said.


http://odili.net/news/source/2008/oct/9/211.html

what happened?

I thought you changed, with these you tribal posts

where is the moderator even, its getting boring now

Grow up Agbaya!!!

And they were just elected Yesterday?
what would happen if he stays for the full term?Hes not guilty yet,but if hes tried and found guilty,he should be meant to repay back every dime he and his cohorts have stolen and even more.My only fear though is,wud anything good come out of it
I weep for my state

what happened?

I thought you changed, with these you tribal posts

where is the moderator even, its getting boring now

Grow up Agbaya!!!

Should we stop reporting issues concerning our criminal leaders?

And they were just elected Yesterday? Shocked Shocked Sad
what would happen if he stays for the full term?Hes not guilty yet,but if hes tried and found guilty,he should be meant to repay back every dime he and his cohorts have stolen and even more.My only fear though is,would anything good come out of it Undecided
I weep for my state

All of them are thieves.

99.9% of our leaders from head to toe are malevolent thieves and hard core criminals. . . their hearts serve as digestive systems. They can all burn in the deepest depths of hell

Oh we’re playing crimes by tribes, are we? Me likey!!

Yoruba. . .  no wait, let me take a Page out of DeepZone’s book and be as dramatic as I can get.

EVERYBODY COME AND SEE OH! ANOTHER SOUTHERNER CAUGHT BY EFCC FOR FRAUD!

Nigeria: EFCC Nabs Iyayi, Ex-Nama Boss, Hunts for Borishade

Daily Independent (Lagos)
9 October 2008
Posted to the web 9 October 2008
Alexandra Mede
Abuja

Former Managing Director of Nigerian Airspace Management Authority (NAMA), Roland Iyayi, George Eider, and Kola Dairo, an aide of former Minister of Aviation, Babalola Borishade, were on Wednesday night picked up by the Economic and Financial Crimes Commission (EFCC).

The commission has equally mounted a manhunt for Borishade himself in connection with the case of alleged mismanagement of N19.5 billion Aviation Fund.

An EFCC source told Daily Independent that while the commission's operatives were yet to pick up Borishade as at press time, it was certain that he would be in their net before the end of the day.

According to the source, the anti-graft commission decided to pick up the principal characters in the aviation scam to ensure they were present in court for their case which begins today before the Federal High Court in Abuja.

When contacted, EFCC's Head of Media and Publicity, Femi Babafemi, confirmed that the case against the suspects comes up today.
Borishade, Femi Fani-Kayode and Roland Iyayi were arrested by the EFCC in June for their alleged parts in the mismanagement of N19.5 billion meant for the repair of control towers in four airports in the country.

They were arraigned by the commission on July 1 after being kept in its custody for some day.

http://allafrica.com/stories/200810090957.html

YEPARIPA!!! THE END OF THE WORLD AS WE KNOW IT IS NEAR OH! ANOTHER NORTHERNER HAS BEEN CAUGHT FOR STEALING MONEY!!

Nigeria: How We Shared N50 Million Govt Money –Witness
8 October 2008
Posted to the web 8 October 2008
Segun Awofadeji
Bauchi

Chief auditor in the office of Bauchi State Auditor-General, Ibrahim Aliyu, has said the N50million generated from the sale of some shares of the state were allegedly shared by former permanent secretary, Ministry of Finance, former Auditor-General and Heritage Investment Securities.
Aliyu said this while giving evidence at the Judicial Commission of Inquiry probing former governor Ahmadu Adamu Mu'azu's administration.

Led in evidence before the Justice Bitrus Sanga Commission, he said between 2005 and 2006, the shares were sold to one Ali Mu'azu, an agent of Kano Branch of Heritage Investment Securities Limited, but "no single kobo was remitted to any of the state accounts or even to the Ministry of Finance Incorporated (MOFI), a company established for that purpose.

While answering questions from one of the Commission's Counsels on exhibits CW50-1495, tendered before the Commission in respect of N4.7million paid in his name from proceeds of the shares.

He said there was an agreement that the proceeds would be shared among them all, lamenting however, that while the former permanent secretary and Abubakar Isa each got the sum of N2.250million each, he was given "a paltry N100, 000."

Aliyu said N4.5million was separated as welfare package, which they also shared, and paid through an account with Kano Branch of a new generation bank in the name of the son of the former Auditor-General, Umar Abubakar Isa, who was then a student of Bayero University, Kano.

The witness also disclosed that one million units of Ashaka Cement shares worth N58.3million was also sold, but only N30million was accounted for and paid into government accounts, while the rest was diverted to private pockets.

http://allafrica.com/stories/200810080484.html

RUN FOR YOUR LIFE! ANOTHER SOUTHEASTERNER HAS BEEN ARRESTED BY THE EFCC FOR FRAUD!!!!!!

Nigeria: EFCC Arrests Nahco MD Over Fraud

9 October 2008
Posted to the web 9 October 2008
Rotimi Durojaiye And Alexandra Mede

Economic and Financial Crimes Commission (EFCC) on Wednesday arrested Managing Director/Chief Executive Officer of the Nigerian Aviation Handling Company (NAHCO) Plc, Bates Sarki Sule, over alleged "corruption and sundry issues."

His arrest followed a petition to the anti-graft agency by some concerned members of staff of the company.

The EFCC will also charge to court today the Rivers State Governor's Chief of Staff, Nyeson Wike, who was detained on Monday over alleged N300 million scam.

Secretary to the Rivers State Government, Magnus Abe, who was detained along with Wike, was, however, granted executive bail by 5 p.m. on Wednesday.

EFCC spokesman, Femi Babafemi, who confirmed the arrest, said the NAHCO boss was still being interrogated in Lagos at press time.

Daily Independent gathered that Sule was alleged to have mismanaged proceeds realised from NAHCO's initial public offer (IPO) by unilaterally placing it in a new generation bank (names withheld).

He was alleged to have placed the funds on call and collected interest upfront.

Sule was also alleged to have bought four million units of NAHCO shares worth N150 million. He told the EFCC that the money was raised through a bank loan.

It was also alleged that he owns commanding shares in Aviation Services Limited (ASL) and other blue chip companies in the country.

Other allegations against the NAHCO boss was that he specialises in buying second-hand equipment at the prices of new ones and also cornering revenue on scheduled flights at the RAMP (a roadway between the tarmac and cargo warehouse) by printing fake receipts.

NAHCO was incorporated as a private limited liability company on December 6, 1979, under the then Nigerian Enterprises Promotions Decree, with Nigerian and foreign equity ownerships in the proportion of 60 and 40 per cent shares respectively.

The Nigerian Airports Authority (NAA), now Federal Airports Authority of Nigeria (FAAN), represented the Nigerian ownership of 60 per cent, while four foreign Airlines own the remaining 40 per cent.

Following the decision of the Federal Government to divest its shares in the company, and the board's resolution of August 4, 2005, changing the status of the company to public limited liability company (Plc), the Bureau of Public Enterprises (BPE), on behalf of FAAN, offered for sale 180 million ordinary shares of 50 kobo each at N5.50 per share through the Initial Public Offer (IPO), which opened on October 31 and closed on November 28, 2005.

The full circle in the change of ownership of NAHCO was finally completed with the listing of its shares on the Nigerian Stock Exchange (NSE) on November 27, 2006.

The shares were listed at N5.50 and have yielded over 900 per cent capital appreciation.

Meanwhile, impeccable sources at the Commission's headquarters told Daily Independent that the Rivers State Governor's Chief of Staff (COS) was being charged to court because a prima facie case had been established against him, while the SSG got bail because he was not involved in the scam.
According to the sources, Abe was arrested and detained because he had written an undertaken to the EFCC that he would take the state officials, who were invited for interrogation by the anti-graft commission last Monday, but failed to do so. He appeared alone.

The SSG's release on bail, Daily Independent gathered, was precipitated by the visit of the Deputy Governor of Rivers State, Tele Ikuru, who was at the Commission's headquarters for more than two hours on Wednesday to secure his release.

The Commission, it was also learnt, is still awaiting the state's Accountant General and the Commissioner for Finance, both of whom were said to be currently outside the country on official assignment.

http://allafrica.com/stories/200810090938.html

Wait, how many do I gotta post to be declared the winner?

I can do state by state too oh. . . I don't have anywhere to go.

Come on! Come on! Let's get this show on the road!!!

Deepy, your next move!

It's like my ignore button is not working because this stalking is getting out of hand.

Rotflmao! Ah yes, falling back to chanting the good ol stalking mantra. God forbid you actually see the idiocy in your posts!

You are right though, I am “stalking you”. I’m sorry but I absolutely refuse to believe someone can be as arrogantly ignorant as you are. I believe you are putting on a show, I think one day, you will forget yourself and drop this brainless ignoramus facade and honestly, I really really. . . REALLY want to be there to see it myself. I hate them say stories, I really do. . . it does nothing for me.

So where next?

PS
Running away when you know you’ve been had is not ignoring. . . just sayin’

A senior official from Nigeria's oil-producing Niger Delta pleaded not guilty on Thursday to embezzling $40 million in public funds, in a corruption case being closely watched by militants in the restive region.

Ezebunwo Nyeson Wike, chief of staff to the governor of Rivers state, faces seven counts of criminal breach of trust and conversion of public funds totalling 4.67 billion naira ($40 million) between 2007 and June 2008, the Economic and Financial Crimes Commission (EFCC) which brought the case said.

The Movement for the Emancipation of the Niger Delta (MEND), the main militant group in Nigeria's oil heartland, threatened on Wednesday to create a "state of anarchy" unless those accused in the case were properly dealt with.

Reuters

I think its just the 'too much money syndrome'

This could have been a good community service thread if it had not been posted to raise ethnic and tribal ire.

this thread has been ruined. deepzone you definitely haven't changed.

Deep zone,
shame on you instead of you to raise the issue without the tribal heading you messed up this thread. tribalist midget

this thread has been ruined. deepzone you definitely haven't changed.

I have oh. Everything on nairaland nowadays sounds tribal but Deepzone will ignore them all and stay fly.