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OBASANJO EXPLODES: Probe me, and l will tell the world who killed 3 million Igbos- OBJ Fires back at Buhari

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The clash between the president and one of his predecessors was triggered when Mr Buhari, while receiving a delegation of the Buhari Support Organisation at the Presidential Villa on May 22, indirectly accused Mr Obasanjo ofwasting $16 billion on power projects with nothing to show for it.

Mr Obasanjo immediately fired back at the president describing his claims as ignorant and unsubstantiated.

The report, signed by the then EFCC’s Director of Operations, Ibrahim Lamorde, addressed allegations of conspiracy, fraudulent conversion of funds, abuse of office, foreign exchange conversion and money laundering against the former president.

The petitions

On August 22, 2005, the then governor of Abia State, Orji Kalu, submitted a petition alleging corrupt practices against Mr Obasanjo to the EFCC.

A second petition was delivered two years later – in November 2007 – by the Coalition Against Corrupt Leaders, a nongovernmental organisation headed by Debo Adeniran, a civil society activist.

The two petitions were consolidated into a single 12-point petition which dealt largely on allegations that Mr Obasanjo’s aides and some Senators connived and took huge sums of money in oil and commissions from Defence contracts.

The petition also alleged that the hostels and sports complex at Mr Obasanjo’s Bells Secondary School and University were constructed by Strabag Construction Company with taxpayers’ money, adding that the total assets value of the university – including ongoing constructions at the time – stood at about ₦40 billion.

It also accused the former president of, as the Petroleum Minister between 1999 and 2006, overseeing “a significant number of fraud” in crude oil sales and accrued commissions in the Ministry of Petroleum Resources.

Other allegations against Mr Obasanjo include the “evidence” that he owned foreign accounts, including a Platinum Credit Card, with which he siphoned money and made purchases abroad; that a “₦6.5 billion proceeds” realised from the appeal fund for the construction of Mr Obasanjo’s Presidential Library were diverted to private use; and that Mr Obasanjo used his presidential powers to approve a licence to Obasanjo Farms, which was in “shambles” while he was in prison, to be sole importer of grant parent stock of chicken.

The petition also included allegations that the federal government under Mr Obasanjo exceeded its spending on Ministries, Departments, and Agencies by about ₦133 billion in the 2005 budget and that ₦521 billion was sunk into the now defunct Power Holding Company of Nigeria, and yet, Nigeria was in darkness.

The petitioners further alleged that the former president, while still in office, allegedly diverted official funds to buy about 200 million units of Transcorp shares; used state funds to pursue his ‘Third term’ agenda; and spent about ₦300 billion on construction and maintenance of Nigeria’s roads, yet, “there are still no good roads.”

The EFCC said after receiving the petitions, it sent out an investigating team to visit Bells Secondary School and University, Obasanjo Farms in Ota, and also contacted Strabag Construction Company and officials of the Presidential Library.

Furthermore, according to the Commission, a letter was written to Mr Kalu inviting him to meet with the EFCC investigating team and assist the investigation by supplying evidence to help substantiate the allegations he raised.

“This was followed by series of telephone calls to all his houses both in Nigeria and abroad,” the EFCC report stated.

“A final appeal, through publication of the invitation, was made in newspapers. All these spirited efforts were unacknowledged as Chief Kalu declined repeated invitations.

“The second petitioner, the Chairman of CACOL, Mr Debo Adeniran, appeared in the Commission in Lagos and threw more lights on his write-up.”

Contacted on Friday night, Mr Adeniran confirmed to PREMIUM TIMES that he did submit a petition against Mr Obasanjo in November 2007 at the EFCC’s Lagos office.

Mr Adediran said following the petition, the then EFCC chairman, Farida Waziri, set up a five-man panel to look into the allegations.

“I was only invited to adopt the petition, the panel did not invite us again, even after Mr Obasanjo gave his response, they didn’t invite us to puncture his claims,” Mr Adediran said.

Obasanjo responds

In his response to the allegations against him to the EFCC, Mr Obasanjo denied any wrongdoing or involvement in corrupt acts.

He said his Obasanjo Farms was ‘structurally developed’ between 1979 and 1995 and was making a substantial profit before his detention in 1995 caused the farm to suffer a reversal of fortune.

However, by 1998, Mr Obasanjo, according to the report, said the farm was reorganised “towards a new profitability path that spurred its full rehabilitation and expansion.”

On Bells Schools, Mr Obasanjo said all the construction in the school since inception in 1995 had been done through direct labour which was supervised by himself and other officials..

On the issue of crude oil sales and fraud in the Petroleum Ministry, Mr Obasanjo said the Group Managing Director of the Nigerian National Petroleum Corporation, and the Minister of State for Petroleum, were fully responsible and should be contacted for more information.

The former president said he has never owned a Platinum Credit Card or carried one “all his life.”

He also denied having a foreign account anywhere in the world and called on the EFCC to undertake a global search and of any such account was found, it should be frozen and the proceeds be published and subsequently seized.

Concerning the defence contractor, Mr Obasanjo said the ministers of defence were in a better position to provide the details.

What EFCC found

The EFCC said based on its own investigation, Bells Schools started off in 1991 with two blocks of burnt bricks hostels, one each for boys and girls, as well as a few number of classrooms.

“That by 1998 two additional blocks of hostels were added, again one each for both and girls. Investigations revealed that these blocks of hostels were built by direct labour contrary to the claims in the petition that it was built by Strabag Construction Company Limited,” the report said.

The report noted that Strabag Construction Company never participated in building the sports complex or hostels at any of Mr Obasanjo’s institutions.

On the Defence contracts, the EFCC said investigators showed that the Ministry awarded contracts ranging from military equipment to other related hardware valued at about ₦6.7 billion, $28 million, €26 million, DM6 million.

“All documents pertaining to importations, bank statements, payments and supplies made by Ministry of Defence were scrutinised and nowhere did it show that any benefit accrued to any individual or group associated or in any way linked to Chief Olusegun Obasanjo,” stated the report.

On the various contracts awarded by the NNPC and the Petroleum Ministry, the investigators also found that contracts valued at over $300 billion and ₦500, awarded to over 20 different companies, were neither directly nor indirectly linked to Mr Obasanjo.

The report’s findings on the Presidential Library showed that its fundraising launch on May 14, 2007, realised ₦3.5 billion and $250,000. Of that sum, ₦1.3 billion was paid to the project contractor, Messrs Gitto Construction Company of Nigeria, as well as the sub-contractors and the project consultants.

On May 26, 1999, three days before he was sworn in as President, Mr Obasanjo entered into a Trust Agreement with Lucky Egede, a lawyer, and Daniel Atsu, whose both addresses were situated at Obasanjo Farms Nigeria Limited, Ota, Ogun State to handle the affairs of the entire farm, according to the report.

The former president’s name was also removed from the list of Directors of the Farms in 1999 when he was going into public office, the report added.

The Trust Agreement with Messrs Egede and Atsu were terminated immediately after Mr Obasanjo left office in 2007.

“That investigation revealed that the Obasanjo Farms had steadily grown its balance sheet over the year (sic) through credits obtained from various banks long before he was president,” stated the report.

“That between 1988 and 1998, over ₦41 million was borrowed from First Bank, Union Bank, NAL Merchant Bank, Afribank, and UBA and this was used to grow the Farms while proceeds through profits were reinvested into farms.

“These loans, it was gathered during investigation, had since been repaid.”

On the Transcorp shares, the EFCC said the blind trust managers of the former president’s businesses approached the UBA for ₦500 million credit with which they bought 500 million units of Transcorp shares as ₦1 each.

“It was also revealed that the shares were used as collaterals and when the president was approached on the matter, he opted to yield back the shares to UBA as it became apparent that this has a strong public concern.

“The decision he took was to return it to UBA where it had been warehoused all along.”

The EFCC further stated that between 1999 and 2007, the PHCN received over ₦273.65 billion and not ₦521 billion and that the appropriation was for its day to day activities, including generation of electricity, transmission, and distribution.

The various contracts awarded in relation to electricity generation, according to the report, amounted to ₦22 billion, $445 million, and €29 million.

“All the documents relating to payments have been checked and scrutinised and there was no reference whatsoever to the former president, his relations, or any front benefitted from the contracts.”

The report further stated it could not establish that Mr Obasanjo diverted public funds for the pursuit of his ‘Third term’ agenda even after the Commission “threw public challenges soliciting for evidence from anti-third term forces in the National Assembly.”

“Going by the evidence from the facts assembled during the course of the investigation, Chief Olusegun Obasanjo could not be directly linked with the allegations,” the report concluded.

SOURCE: PREMIUM TIMES

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Alleged 76bn, $31.5m Fraud: EFCC Arraigns Ex AMCON MD, Ahmed Kuru, Four Others in Lagos

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The Economic and Financial Crimes Commission (EFCC) on Monday, 20 January, 2025 arraigned a former Managing Director of Assets Management Corporation of Nigeria AMCON, Ahmed Kuru and four others for allegedly defrauding Arik Airline N76 billion and $31.5 million, respectively.

 

Other defendants are former Receiver Manager of Arik Airline Ltd, Kamilu Omokide, Chief Executive Officer of the airline, Captain Roy Ilegbodu, and Super Bravo Ltd and Union Bank PLC.

 

The defendants were arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on a six-count charge bordering on theft, abuse of office and stealing by dishonestly taking the property of another.

 

The defendants, however, pleaded not guilty to all the six-count charges when they were read to them.

 

Count one reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71,000,000,000.00 (Seventy-One Billion Naira) to AMCON.”

 

Count two reads: “That you, Ahmed Lawal Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4,900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited”.

 

Count five reads: “That you, Kamilu Alaba Omokide, Ahmed Lawal Kuru and Capt. Roy Ilegbodu, on the 12th day of February, 2022 or thereabout, in Lagos, within the jurisdiction of this Honourable Court, being public officers, directed to be done in abuse of the authority of your office and with intention of obtaining undue advantage for yourself and cronies an arbitrary act, to wit: intentionally authorizing the tear down and destruction of 5N-JEA with Serial No. 15058 valued at $31.5million (Thirty One Million, Five Hundred Thousand Dollars), an arbitrary act, which act is prejudicial to the economic stability of the Federal Republic of Nigeria and Arik Air Limited”.

 

The counsel to the first and third defendants, Prof Taiwo Osipitan, SAN, informed the court of a motion for bail application dated November 28, 2024 and November 29, 2024 for the two defendants.

 

Osipitan prayed the court that the defendants be granted bail on liberal terms.  According to him, the first defendant had no criminal records and that the EFCC granted him administration bail  which he didn’t jump.  “We pray the court grants bail to the two defendants on the same liberal terms given to them by EFCC,” he said.

 

EFCC Counsel, Wahab Shittu SAN, filed counter-affidavits dated December 2, 2024 against the first defendant and also another counter affidavits dated December 22, 2024 against the third defendant.  Shittu prayed the court to dismiss their bail applications.

 

According to him, the two defendants are facing serious offences of economic sabotage. However, he agreed with the second and third defence counsel that they are presumed innocent pending the determination of the court. Shittu , however, added that the temptation of the defendants leaving the country was very high. He thereafter prayed that accelerated hearing be granted and the defendants’ international passports be seized by the court.

 

“But if my lord decides to be magnanimous to grant them bail, we shall be praying for stringent conditions because we are particular about their attendance in court. “We urge that they should submit their international passports with the court in order to ensure that they come for trial,” he said.

 

The counsel to the second defendant, Olasupo Shasore, SAN in his motion for bail dated December 6, 2024 and filed on the same day, urged the court to also grant bail to his client on self recognition.

 

The prosecuting counsel in his counter affidavits dated January 17, 2025, opposed the bail application of the second defendant.

 

He said the application for bail was incompetent and should be struck out. Shittu cited relevance laws to buttress his argument. “My lord, the record of this court is to the effect that the second defendant, at one point, absconded in which your lordship had to issue a bench warrant. “The learned silk for the second defendant is not the defendant on trial and it is very unhealthy for a counsel to stand as a surety for a defendant.

 

“I urge my lord, in exercising his discretion, to take all this into consideration because our concern is the appearance of the second defendant in court so that he does not abscond.”

 

After listening to the arguments from all the parties, Justice Dada granted bail to the defendants in the sum of N20 million Naira each with two sureties in like sum.   The sureties must be gainfully employed and deposed to means of identification.

 

She also directed that the defendants must submit their international passports with the registrar of the court.

 

Justice Dada adjourned the matter till March 17, 18, and 19, 2025 for commencement of trial.

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Absence Of Oba Otudeko, Bisi Onasanya, Others Stalls Arraignment Over N12.3Billion Fraud As Otudeko’s Lawyer Protests In Court

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The counsel for Oba Otudeko, Chairman of Honeywell Group, who is facing charges of a N12.3 billion fraud, appeared before a Federal High Court in Lagos on Monday to protest the charge.

Mr. Bode Olanipekun (SAN) informed the court that he was protesting because the charge had not been served on Otudeko or the two other individuals charged alongside him, the News Agency of Nigeria reports.

Olanipekun informed the court that, despite not being served with the charge, the defendants were shocked to learn about the planned arraignment through the media when the story broke last Thursday.

The 13-count charge was filed by the Economic and Financial Crimes Commission (EFCC) against Oba Otudeko, former Managing Director of FirstBank Plc. Olabisi Onasanya, and former Honeywell board member Soji Akintayo.

Olanipekun is the counsel for the three defendants.

They were charged alongside the company, Anchorage Leisure Ltd.

 

The EFCC alleges that the defendants obtained the sum under false pretenses.

 

According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, 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 used forged documents to deceive the bank.

Specifically, count 1 accused the defendants of conspiring “to obtain the sum of N12.3Billion from First Bank 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 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 billion from First Bank 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 alleged that the defendants, between 2013 and 2014 in Lagos, obtained N6.2billion from First Bank 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 N6.15billion, out of the monies.

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

Counts 5 reads: “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.”

Meanwhile, Otudeko had reportedly fled Nigeria ahead of his scheduled arraignment on fraud charges.

 

According to TheCable Newspaper, Otudeko’s exit from the country is linked to the mounting legal pressures and financial disputes he is facing.

The newspaper reported that the businessman left the country via one of the land borders.

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Loan controversy: Bisi Onasanya’s lawyer condemns media trial….Judge adjourns case to February 13

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In line with his resolve to defend himself and clear his name, Dr. Bisi Onasanya through his lawyer, Adeyinka Olumide-Fusika, SAN, at a session at the Federal High Court Lagos on Monday, January 20, 2025, demanded the service of proof of evidence and summons.

Onasanya, a chartered accountant and a former Group Managing Director of First Bank is defending himself against a controversial loan that allegedly occurred at First Bank 12 years ago. The retired banker is refuting the allegations alongside three others namely former Chairman of the bank, Chief Oba Otudeko, a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Ltd.

At a hearing at the Federal High Court in Lagos on Monday, Fusika condemned the media trial his client had been subjected to, saying he was not formally invited by the EFCC or served a notice of the charge.

He expressed surprise at seeing news stories in major newspapers linking Dr Onasanya to a trial on loan controversy during his time as First Bank Group Managing Director without prior notification.

“My Lord, it is concerning that my client has been unduly exposed to media trial without being formally served. This is a procedural anomaly that undermines his right to a fair hearing and personal dignity,” Olumide-Fusika said.

The prosecuting counsel, Rotimi Oyedepo, denied any involvement by the EFCC in the media coverage of the case.

He stated that the commission had not issued a press statement and suggested that journalists may have obtained information through other means.

“My Lord, we disassociate ourselves from any media reports,” Oyedepo said.

The EFCC also applied for an ex parte motion to issue a bench warrant for the defenders’ arrest and sought permission to serve them through substituted means, alleging they had evaded service.

Olumide-Fusika opposed the motion, arguing that his client had always been available and had not evaded service. Demonstrating his determination to clear his name, the senior lawyer prayed to the court to have the EFCC serve the charge and the proof of evidence in the open court.

“This application is unwarranted and speculative. My client has neither avoided service nor absented himself from this matter. The claims of the prosecution are baseless. Since I am here and my client is ready to go ahead with this case, I ask to be served the charge and the proof of evidence here in the court,” Olumide-Fusika argued.

Justice Chukwujekwu Aneke, who presided over the case, dismissed the EFCC’s motion for substituted service on Onasanya since he has accepted to be served in the open court.

The judge consequently ordered that the EFCC serve Olumide-Fusika the charge and proof of evidence in open court.

The EFCC complied with the directive, and Olumide-Fusika who confirmed the receipt of the document extracted a confirmation from the prosecution counsel that the proof of evidence submitted is exhaustive and there wouldn’t be an addendum. The defence counsel said EFCC’s confirmation should be on record, insisting that his client was ready to defend himself and clear his name.

Justice Aneke adjourned the case to February 13, 2025.

It will be recalled that Onasanya, through his Communication Advisor, Mr Michael Osunnuyi, had earlier dismissed allegations, describing the claims as baseless and an attempt to tarnish Onasanya’s stellar reputation for professionalism, integrity and humaneness.

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