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$65 MILLION NHF FRAUD: BUHARI EX-INLAW, KUMO SAYS ICPC MADE HIM A COMMON CRIMINAL

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A former managing director of the Federal Mortgage Bank of Nigeria, and ex son in law to President Muhammadu Buhari, Mr Gimba Yau Kumo is angry with the Independent Corrupt Practices and Other

Related Offences Commission (ICPC) for publicly declaring him wanted in connection to the $65 million fraud allegedly committed during his time as the helmsman at the bank.

In a letter he wrote to the ICPC chairman, dated 27th of May, 2021 and titled, RE: INVESTIGATION ACTIVITIES SIXTY FIVE MILLION UNITED STATE DOLLARS ($65,000,000.00) GOODLUCK JONATHAN LEGACY ESTATE LOCATED IN KUBWA DISTRICT, ABUJA, Mr. Kumo said publicly declaring him wanted has made him to become a common criminal in his own country in spite of having given his best as a  public servant.
He claimed that he was never served  with any letter of invitation before his name was published or declared wanted in the national dailies and social media which is contrary to Section 29, 30, 31 and 32 of the ICPC Act, 2000 and other enabling laws.
Pointblanknews.com had reported that Kumo, a son-in-law of President Buhari, and two others including Tarry Rufus and Bola Ogunsola were declared wanted over alleged misappropriation of $65 million National Housing Funds.
Mr Kumo, a former managing director of the Federal Mortgage Bank of Nigeria, had in 2016 married Fatima, the president’s daughter, in Daura, Katsina State.
In the notice signed by its spokesperson Azuka Ogugua, the ICPC urged the public to provide information about the whereabouts of the wanted persons.“The persons whose pictures appear above, Mr Tarry Rufus, Mr Gimba Yau Kumo and Mr. Bola Ogunsola, are hereby declared WANTED by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in connection with issues bordering on misappropriation of National Housing Funds and diversion of the sum of Sixty Five Million dollars ($65,000,000).

“Anyone who has useful information on their whereabouts should report to ICPC Headquarters Abuja, any of the ICPC State Offices or the nearest police station.”

Kumo is yet to honour this invitation. He is insisting that until ICPC formally send an invite, he would not hand over himself.
He has however acquitted hiself of any wrongdoing insisting that the ICPC should rather investigate the  management after him whom he claimed “lacked capacity, political will and focus, hence the project was intentionally stalled and Nigerians were denied this laudable opportunities and privilege.”
According to the memo he wrote to ICPC which POINTBLANK NEWS has a copy, he said his ordeal started when the senate committee on public accounts had in April summoned him to explain the alleged irregular award of N3 billion contract when he was still at the bank.
The committee issued the summons following a query raised in a 2015-2018 report by the office of the auditor-general of the federation (AuGF) against the FMBN. According to the report, the contract was awarded in four phases and was overpaid to the tune of N3,045,391,531.97.
But in his response to the allegation, Mr Kumo said the project was started under his management team and was handed over to the new management on the 14th February, 2016 as a result of their disengagement by the Government and that while they were in charge of the project, they followed the procedures alongside the technical partners.
He response to the allegation is replicated below:
The concept and initiative on the above Estate (FMBN Legacy Estate) was a presidential initiative/directives vide Mr. Presidents letter with reference No. SH/COS/92/1/232 dated 28th August 2012, copy attached (marked as APPENDIX 1) for your ease of reference please.
The letter was conveyed to the Federal Mortgage Bank of Nigeria (FMBN) vide the Honourable Minister of land and Urban development letter with reference No. PS/FMLHVD/X/HD/05/111 dated 10th September, 2012, copy attached and marked as (APPENDIX 2) for your ease of reference please.
Following the above directives, the bank sought and obtained for permission to source for funds and obtained loan both locally and internationally from the Honourable Minister of land, housing and urban development vide our letter dated 21st February 2012, copy attached and marked as (APPENDIX 3)  and approval to obtain loan from Ecobank with reference No. FMBN/MD/CE/12.2010/0106 dated 30th July, 2012 copy attached and marked (APPENDIX 4) for your ease of reference please.
HOW WE COME TO KNOW GOOD EARTH POWER LTD
Good earth power Ltd was introduced to us by Mr. Tarry Rufus MD/CEO of T-Brend Fortunes Ltd/Good Earth Power Nigeria Limited with whom the Bank had previous dealings.
In the bank quest to partner with foreign investors to deliver affordable housing to Nigerians, Mr. Tarry Rufus who happens to be the local Director of Good Earth Power Nigeria Ltd introduced the company to the Bank for the purpose of partnership to bring construction of modern, integrated and affordable housing to the Nigerian community in line with international best practices and housing being built in other developed countries across the globe.
The above is in line with the presidential directives to the bank to seek cheap private funding delivery in Nigeria. In this direction, the Bank sought for housing project finance facility in the tune of (N10, 000, 000. 00) Ten Billion Naira only)
This project is the first part (Phase 1) of an overall strategy aimed at delivery about 1,000,000 housing units with associated infrastructure (road, power, water, sewage and communication) in Abuja, Lagos, Port Harcourt (and other capital cities in Nigeria).
While FMBN is to source for funding for Phase 1 of the Project (which would comprise 1,550 houses) GEPN is to finance and build the remaining housing units after the first phase, with FMBN providing guaranteed off-takers through facilitating mortgages for each community of houses built in accordance with the terms in the Framework Agreement. Copy of the framework agreement is attached and marked as (APPENDIX 5) and also general affordable housing agreement copy attached and marked as (APPENDIX 6).
THE PROJECT
The FMBN (Goodluck Ebele Jonathan Legacy Estate) is a Model Housing Estate Development located on Plot 4 & 5, Cadastral Zone D12, Kaba District, FCT Abuja. The development is designed to deliver all the services of a modern urban sitting. Including eight categories of residential housing types with ancillary facilities such as Schools, Shopping/Retails Centers, Worship Centers, Maintenance Facilities, Integrated Organic Hybrid Agro Facility (Nutridome) and a dedicated Power and Waste Recycling Plant.
The Estate Site is approximately Twenty Eight (28) Hectares in size with a winding stream in 12.20 hectares and designated as Plot 5 which the Southern Plot measuring 15.72 hectares and designated as Plot 4. The Site Plan and new town concept drawing copy is attached and marked as (Appendix 7) for your ease of reference.
The designated Developers Messrs Good Earth Power Nigeria Limited formally took possession of the project site on Wednesday, 5th December, 2012 and thereafter commenced work on the 20th December, 2012. The official ground breaking ceremony for the project was performed on the 4th of February, 2013 by the Honourable Minister of Lands; Housing and Urban Development with the FCT Minister jointly performed the ceremony.
The Project was programmed for 18th months and was expected to be completed and handover to the Federal Mortgage bank of Nigeria on or before 20th June, 2014. However, the project has experienced considerable delay arising from delays in the opening of letters of credits as well as in the arrival of imported materials for construction, and it was to be formally delivered in October, 2016.
As at the time I handed over the managing Director/CEO on the 14th of February, 2016, the following was the status of the project. The Project has two (2) components (A) Local and (B) Foreign.
STATUS OF THE LOCAL COMPONENT OF THE PROJECT AS AT 14/02/2016
All building approvals have been obtained from FCDA.
All compensation has been fully paid.
Land has been fully cleared and prepared.
All the foundation for construction of the steel frames have been fully done.
Both the primary and the secondary road have been fully constructed awaited overlaying.
The entire parameter fencing has been done and fully secured.
The secondary bridge has been constructed remaining the main bridge.
More than 150 Nigerian workers and 8 German, American, Italian and Indian Engineers were working effectively on site as at 14th February, 2016.
The total amount of money spent and the status of the local content of the Project as Professionally submitted verified and paid by the Project Consultants Messrs Associated Design Consultants is hereby summarized marked and submitted as ML1 to ML60 serial No. 1 – 71 for your ease of reference.
STATUS OF THE FOREIGN CONPONENT AS AT 14/02/2016
As at the time I left as managing Director/CEO the status of the foreign component is as follows:
Materials delivered, receipt and warehouse at the site UD Dollar $5,200,000.00 representing 20% of LC value of N26, 000,000.00 US Dollar.
Uncleared goods at the Nigerian Port valued $4,680,000.00 representing 18% of the LC value of N26, 000,000,00lag.
Both materials at site and in the Lagos Port is valued at $9,880,000 US Dollars representing 38% of LC value of $26,000,000.00 as open by the Central bank of Nigeria (CBN).
Value of items not delivered by the Good earth Power Ltd stands at $16,120,000.00 representing 62% of the LC value.
My letter of disengagement and copy of my handing over report on the project status, progress and picture of site is also hereby attached for your perusal.
* Pointblank News

Society

Oniru confers chieftaincy titles on Smith, Idowu, Olorunnimbe, Akintoye others

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The Oniru of Iru-land, His Royal Majesty Oba Abdul-Wasiu Omogbolahan Lawal CON [Abisogun II] has announced the conferment of honourary chieftaincy titles on eminent and distinguished citizens of Nigeria.

 

The revered monarch unveiled the shortlist of recipients as part of activities to mark the fifth anniversary of his peaceful reign on the revered throne.

 

Among the esteemed honourees are Iya Oba of Iru Kingdom – Chief (Mrs) Basira Titilayo Smith, Aare Majeobaje of Iru Kingdom – Chief Adeyemi Idowu, Aare So’ludero ofIru Kingdom- Chief Muyiwa Gbadegesin, Ph.D and Erelu Asa of Iru Kingdom – Chief (Mrs) Bolane Austen-Peters, Aare Fiwagboye of Iru Kingdom – Chief Lukman Olayiwola Mustapha, Asoju Oba of Iru Kingdom- Chief Idris Ibikunle Olorunnimbe and Ajiroba ofIru-Kingdom- Chief Adegboyega Hakeem Akintoye.

 

While extending congratulations to the distinguished honourees on behalf of His Majesty and the Oniru-in-Council, High Chief Abayomi Daramola, Balogun of Iru-Land, in a statement revealed that the conferment of titles will be performed on 14th June, 2025 at the palace (Aafin Oba Oniru), Victoria Island, Lagos.

 

The statement read in part, “to mark the fifth-year anniversary of his ascension to the revered throne of his forebears as the 15th Oniru of Iru-land and after a rigorous selection process, His Royal Majesty Oba Abdul-Wasiu Omogbolahan Lawal CON [Abisogun II] – The Oniru of Iru-land upon the recommendation of the Oniru-in-Council, has issued a Royal Decree approving the conferment of respective honouray Chieftaincy titles on the underlisted eminent and distinguished citizens.”

 

 

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‘Not My Property’ – Ex-Petroleum Minister, Diezani Exposes Owner Of Recovered $52.8 Million Loot

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Nigeria’s former Minister of Petroleum Resources, Diezani Alison-Madueke, has clarified that she is not connected to the $52.5 million that was recently brought back to the country from the United States of America (USA).

Society Reporters recalls that the federal government on Friday, January 10, announced the receipt of $52.88 million in recovered Galactica assets linked to the former Minister of Petroleum.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced the recovery during a formal signing ceremony of the asset return agreement in Abuja.

Fagbemi explained that $50 million of the recovered funds would be channelled through the World Bank for the development of rural electrification projects.

The remaining $2.88 million, he added, would be allocated to the International Institute of Justice to enhance the justice system and support anti-corruption initiatives.

However, in a statement issued on Sunday, Diezani, who has been residing in the United Kingdom (UK) since departing from Nigeria, asserted that the funds associated with her in the media as illicit gains actually belonged to Nigeria’s oil entrepreneur, Kola Aluko.

Finally responding to the alleged recovery through her attorney, Mike Ozekhome SAN, Diezani maintained that the term “Diezani Loot” is unfounded, as she had no involvement in the circumstances surrounding the forfeiture of the funds by its rightful owner.

Expressing her stance, the former minister stated that the $52.5 million originated from a vessel that was confiscated by the American authorities from Kola Aluko, which was subsequently sold, with the proceeds returned to the Nigerian federal government.

Her disavowal of ownership over the funds was detailed in an extensive press release issued on Sunday by the Chambers of Mike Ozekhome SAN, titled “There is no such thing as Diezani Loot.”

The statement reads: “My chambers makes this intervention in the public domain as Solicitors to Diezani Alison-Madueke (DAM) ,the former Minister of Petroleum Resources, HMPR.

“As her Solicitors, we are fully versed in and conversant with her present ordeal and the entire facts surrounding her matters both here in Nigeria and abroad. So, we write from the vantage position of one that is aware of the cocktail of lies that have been spurned around her cases in the last ten years.

“Many of the narratives are outrightly false; some others sheer outlandish speculations; and most, simply bizzare stories cooked up by her traducers to extract a Shylock’s pound of flesh from her for reasons she does not know and cannot even fathom.

“This intervention therefore seeks to correct this skewed narrative and set the records straight for purposes of history. Many Nigerians often talk about wanting ‘technocrats’ to be involved in governance. They desire that people with character and integrity should join politics.

“We agree with them. However and regrettably too, now and again and many a time, the same people not only allow, but actually join the bandwagon to mob-lynch those who chose to serve the nation.

“And we often do this insidiously, covertly and overtly, even when there is no concrete or even any iota of proof that such public officers ever abused their offices or stole from public coffers.

“It is therefore surprising and of great concern to us, to see the level of sustained vilification of an innocent Nigerian citizen who has not yet been tried and found guilty of any offence known to law by any court of law whether in Nigeria or abroad. The person at the receiving end is Citizen Diezani Alison-Madueke (DAM).”

Mischievous And Cruel
The statement from Ozekhome’s office described the earlier claims about the asset recovery as misinformation and defaming.

It said: “We note with concern the recent deliberate attempt to link her with what has been described as a civil forfeiture of a yacht Galactica, the sale of which was said to have yielded $52.8m to the US government; which sum has since been repatriated to Nigeria.

This is a clear example of the mischievous and cruel sport of tarnishing the image of the lady through a bouquet of consistent, persistent and unrelenting cocktail of falsehoods and misinformation.

“The purveyors of this line of misinformation term it “name-and-shame”. To sell the storyline, the architects ensured they attached Diezani’s name to a recovered yacht which is not in any way linked to her.

“They now falsely termed it “Diezani loot”. Nothing of the sort ever happened. She was never involved in the purchase, use and sale of the said yacht.

“The yacht Galactica, from information readily available in the public domain and in open sources, was purchased by Mr Kola Aluko who had used the vessel until he agreed to its forfeiture to the United States of America.

“The yacht Galactica was neither owned nor ever used by our client. DAM has in fact never set her eyes on the yacht. Kola Aluko is an experienced businessman who had been in business well before DAM came into office as HMPR.

“The only tenuous basis for deliberately linking DAM to the said yacht is the false narrative that the Strategic Alliance Agreements (SAAs) which were entered into between Kola Aluko & Jide Omokore’s Atlantic Energy companies and NNPC, were allegedly corruptly awarded to the said companies by DAM. DAM was not the GMD of the NNPC as so did not and could not have awarded the said contracts.

“We plead, as her lawyers, with all and sundry that she be accorded fair hearing and that the process of these UK court proceedings be allowed to take their natural course to avoid prejudice to her in the ongoing subjudice UK proceedings against her.

”Those purveyors and peddlers who habitually spin these outrightly false, unfounded, defamatory, unintelligent and indefensible narratives to denigrate and humiliate her should please find better use of their time and leave DAM alone.

“Let the law take its natural course without interference. We humbly pray.”

 

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Bisi Onasanya, ex FirstBank MD flees Nigeria to Ghana as EFCC closes in……

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Bisi Onasanya, the embattled former Managing Director of FirstBank has followed in the steps of Oba Otudeko, the former chairman of FBN Holdings and fled the country.
Onasanya who is expected to appear at the Federal High Court in Lagos on Monday January 20 to answer to the charges brought against him by anti-graft agency, the Economic and Financial Crimes Commission, EFCC, may likely be absent in court as he is currently holed up in Ghana in hiding.

He was spotted at Movenpick Hotel in Accra where he checked in at exactly 8 am on Friday morning.

Society Reporters had earlier reported that Onasanya will be arraigned before Justice Chukwujekwu Aneke for looting over N12.3 billion.

He will be arraigned alongside Otudeko, also the chairman of Honeywell Group who is equally on the run, as well as two others, a former board member of Honeywell Group, Soji Akintayo and a firm, Anchorage Leisure Limited connected to Otudeko.

The quartet committed fraud in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion and N500 million, N6.2 billion and N2.09 billion between 2013 and 2014 in Lagos.

The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, further claimed that the defendants made and uttered forged documents to deceive the bank.

Specifically, count 1 accused the defendants of conspiring “to obtain the sum of N12.3 billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”

In Count 2, it was alleged that the defendants, on or about the 26th day of November 2013 in Lagos, “obtained the sum of N5.2 Billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false.”

The 3rd count claimed that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

In the 4th count, they were accused of conspiring to spend the N6,15 billion, out of the monies.

According to the Commission, the offences contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and are punishable under Section 1(3) of the same Act.

Counts 5 and 6 read: “That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about 11th day of December 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1,5 Billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 million only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 million only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

The Street Journal

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