Connect with us

News and Report

ALLEGED €29M FRAUD: EFCC PRESENTS TWO WITNESSES AGAINST JEAN CODO, COMPANY

Published

5 years ago

on

The Economic and Financial Crimes Commission, EFCC, on Wednesday, January 8, 2020, presented two prosecution witnesses, Van Tichelan Freddy and Stefan Somogyi, against a businessman, Jean Codo and his company, Transport and Port Management System Limited, TPMS.
The defendants were arraigned on Friday, December 13, 2019 before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on a seven-count charge bordering on stealing to the tune of €29,000,000.00 (Twenty-Nine Million Euros), property of the Federal Government of Nigeria.

One of the counts reads: “That you, Jean Codo and Transport and Port Management Systems Ltd, sometime in 2010 in Lagos, within the jurisdiction of this Honourable Court, conspired to commit felony, to wit; stealing of about €29,000,000.00 (Twenty-Nine Million Euros), property of the Federal Government of Nigeria.”

The defendants pleaded not guilty to the charges preferred against them by the Commission.

At today’s sitting, the first prosecution witness, PW1, Freddy, revealed to the court how Codo had approached him in 2007 regarding a contract he got from the Nigerian Ports Authority, NPA.

Led by the prosecution counsel, Rotimi Oyedepo, Freddy, a Belgian and General Manager of Antasa International Group, also told the court how the contract was executed and how monies were paid to Codo’s company.

In his testimony, Freddy said: “Mr. Jean Codo approached me that he had a contract from NPA, but he did not have the resources, personnel, platform or agency network to fulfil the obligations and commitments regarding the contract.

“He told me to help him fulfil the requirements and we had a written agreement.

“So, Antasa decided to help him to actualise the contract.”

The witness further told the court that the first defendant was expected to provide logistics and transfer money derived from the contract to appropriate quarters as agreed by the NPA and the defendant’s company, TPMS.

“The obligations expected from Jean Codo as agreed were to provide logistics and transfer money collected from all exporters.

“He was expected to transfer sixty percent to the Nigerian Government and forty percent for other parties involved”, the witness said.

Giving further evidence, Freddy also told the court that Antasa International Group executed the contract for the defendant and that the contract was scheduled for a long-term basis.

According to the witness, “ a sum of money totalling €42million was sent to Jean Codo between 2010 and 2011 and he was expected to transfer sixty percent of the money to Federal Government of Nigeria.”

The PW1, however, said Antasa decided to stop working for TPMS in 2011 due to some management decisions.

He further told the court that he was surprised when the EFCC invited him last year based on some discrepancies in the transfer of money to the state regarding the contract between TPMS and NPA.

He said all monies were paid to the defendant and was expected to transfer the funds to the agreed quarters.

While being cross-examined by Bolaji Ayorinde, SAN, counsel to the first defendant and Femi Pedro, SAN, counsel to TMPS, the witness admitted that there was an agreement between Antasa and TMPS.

The witness told the court that his company never had any contract with the NPA and he was not shown any contract by the defendant.

He, however, admitted that Antasa was an agent to Codo, who was principal to Antasa.

The defence team asked the prosecution to provide the court with the “agreement” between Antasa and TMPS.

Upon presentation of the agreement written in French by the prosecution counsel, the defense counsel sought an order of the court for the translation of the agreement to English language.

In his evidence, the second prosecution witness, Stefan Somogyi, an accountant with Antasa International Group, also told the court that he carried out accounting job for the defendant regarding the contract and also provided the bank account of the defendant for payment to be made.

When the prosecution sought to tender some financial documents, the defence objected on the grounds that it was served the documents a few days ago and would, therefore, need time to peruse them.

Consequently, Justice Dada adjourned the case till January 13, 2020 for continuation of trial.

Related Topics:
Continue Reading
Advertisement

News and Report

Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

Published

12 hours ago

on

November 7, 2024

By

 

Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

Continue Reading

News and Report

Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

Published

1 day ago

on

November 6, 2024

By

The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

Continue Reading

News and Report

Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

Published

1 day ago

on

November 6, 2024

By

President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

Continue Reading

Trending