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EFCC Report Indicts Saraki, Ex-Bank MD in N19b Paris Club Scam

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By Dipo Olowookere

The Economic and Financial Crimes Commission (EFCC) has submitted a report to President Muhammadu Buhari linking Senate President, Mr Bukola Saraki, and some of his aides to the diversion of about N19 billion from the N522bn Paris Club refund.

The report also fingered Mr Robert Mbonu of Melrose General Services Limited, who is a former Managing Director of Societe Generale Bank of Nigeria, the commercial bank owned by the Saraki family which was later liquidated.

The Federal Government had, in December 2016, approved the sum of N522.74 billion to be paid to the 36 states of the federation as part of the reimbursement of the over-deduction on the Paris Club loan from 1995 to 2002.

The EFCC had sometimes in January discovered that the loan refunds were illegally routed through the account of the Nigeria Governors Forum by the Central Bank of Nigeria.

Upon receiving the funds, the NGF, in an alleged connivance with Mr Saraki, began remitting huge sums to private consultants who then laundered about N19 billion.

According to the report, apart from the NGF, others under investigation include the Relationship Manager to the Senate President in Access Bank, Kathleen Erhimu.

Some others under probe and identified as Mr Saraki’s aides include Obiora Amobi, Gbenga Makanjuola, Kolawole Shittu and Oladapo Idowu.

The report alleges that sometimes in December, Mr Saraki introduced the ex-bank MD, Mbonu, to Erhimu.

Others at the meeting were Mr Saraki’s aforementioned aides.

It added that sequel to the meeting, the sum of N3.5 billion was lodged into Melrose General Services Company account number 0005892453, domiciled in Access Bank from the Nigeria Governors Forum on December 14.

The report stated that two of Saraki’s aides, Obiora Amobi and Gbenga Makanjuola, were introduced to Access Bank as representatives of Melrose General Services Limited by Mbonu to enable them to make cash withdrawals from the account.

It added that Amobi and Makanjuola made cash withdrawals in various tranches of N5m and N10m.

The report reads in part, “Based on the foregoing findings, it is clear that Robert Mbonu, the Managing Director of Melrose General Services Company and his company were used to help divert proceeds of unlawful activities under the guise of payment for contractual obligations with the Nigeria Governors Forum.

“Suffice to apprise that all payments received by Melrose General Services Company from the NGF have hitherto been diverted directly via cash withdrawals and indirectly through transfers by Gbenga Peter Makanjuola, Kolawole Shittu and Oladapo Joseph Idowu, who are principal aides to the Senate President.

“Furthermore, other payments from Melrose General Services Company have also been linked to companies that Dr. Bukola Saraki has interest in and carries out transactions with.

“This includes the sum of $183,000, which was transferred to Bhaska Devji Jewellers, Dubai, a company Dr. Bukola Saraki had repeatedly made payments to.

“Also, the sum of N200 million was transferred to Wasp Networks Limited that subsequently transferred the sum of N170m to Xtract Energy Services Limited, a company that routinely made deposits into Dr. Saraki’s Access Bank US Dollar Domiciliary account.”

The report concludes that a prima facie case of conspiracy to retain the proceeds of unlawful activities and money laundering, contrary to sections 15(3) and 18(9) of the Money Laundering Prohibition Act 2004, could be established against the aforementioned suspects.

“Additionally, investigation into their personal accounts is ongoing,” it adds.

When contacted, the Special Adviser to the Senate President on Media and Publicity, Mr Yusuph Olaniyonu, who spoke on behalf of Mr Saraki, said he would not react except he sighted the report.

“Send the report to me and I will be able to read it and contact the necessary people. If I don’t see the report, I cannot react to it in abstract. Send me the report if you want our reaction,” he said.

Spokesman for the EFCC, Mr Wilson Uwujaren, confirmed that investigations were ongoing into the Paris Club scam.

He, however, said he did not know the specifics of the investigations.

“I can only confirm that there are investigations but I don’t have details,” Mr Uwujaren said.

http://punchng.com/n19bn-paris-club-scam-efcc-report-indicts-saraki-aides-ex-bank-md

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Senate Caves in, Amends Electoral Act on Electronic Transmission of Results

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Godswill akpabio Senate President

By Adedapo Adesanya

The Senate has amended the Electoral Act, modifying Clause 60 to require the presiding officer at each polling unit to electronically transmit election results to the INEC Result Viewing (IReV) portal.

However, it added a clause that if electronic transmission fails due to communication/network issues, the manual result sheet (Form EC8A) would become the primary source for result collation.

The Senate amended the votes and proceedings of its plenary sitting last Wednesday, February 4, with regard to its resolutions on the provisions of section 60 sub 3 in the Electoral Act Amendment Bill.

The motion moved by the Senate Chief Whip, Mr Mohammed Tahir Monguno, and endorsed by the red chamber, is with regard to the electronic transmission of election results from polling units.

Following the motion, this means the Senate adopts electronic means for the transmission of election results, but should there be a communication glitch that leads to failure of delivery by the electronic means, the form EC8, which contains the results at polling unit, duly entered on the form, stamped and signed by the election officer appointed by the Independent National Electoral Commission (INEC) and counter signed by the various agents shall be the primary source of collation.

After the vote on the motion, Senator Enyinnaya Abaribe moved a counter-motion calling for a division, that is, individual voting on section 60 sub 3.

He, however, withdrew the motion after the Senate President Godswill Akpabio asked him to proceed.

The issue of real-time transmission has raised worries with protesters, including former presidential candidate Mr Peter Obi and others marching to the National Assembly on Monday to voice their anger at legislators approving changes to electoral laws, while omitting the key reform demanded by the opposition party.

The Senate’s position on the transmission of election results contrasts with that of the House of Representatives. However, both chambers have set up conference committees to harmonise their differences, after which a clean copy will be transmitted to the President for assent.

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Alison-Madueke Denies Wrong Doing as Prosecutors Present Evidence

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Diezani Alison-Madueke

By Adedapo Adesanya

Embattled former Nigerian Minister of Petroleum, Mrs Diezani Alison-Madueke, returned to court in London on Monday, denying wrongdoing as prosecutors presented evidence for an alleged bribery.

It was recently reported that Mrs Alison-Madueke, once president of the Organisation of the Petroleum Exporting Countries (OPEC), received cash and luxury benefits in exchange for influence over oil and gas contracts when she was a minister in the cabinet of former President Goodluck Jonathan.

She has denied the claims repeatedly.

In the latest development in her trial, jurors in the British court today heard testimony from a luxury furnishings retailer and a former housekeeper, as prosecutors sought to show how high-end purchases and property use were allegedly routed through intermediaries.

The 65-year-old is accused of multiple bribery counts stemming from a years-long investigation.

The alleged offences occurred between 2011 and 2015, when she was Nigeria’s oil minister but maintained a UK address.

The UK National Crime Agency (NCA), which targets international and serious and organised crime, accused her of receiving the bribes in Britain.

Mrs Alison-Madueke is accused of accepting “financial or other advantages” from individuals linked to the Atlantic Energy and SPOG Petrochemical groups.

Both companies secured contracts with the then Nigerian National Petroleum Corporation (NNPC) or its subsidiaries, according to the prosecution.

The former minister is also said to have received £100,000 ($137,000) in cash, chauffeur-driven cars, a private jet flight to Nigeria and refurbishment work and staff costs at several London properties.

Other counts allege she received school fees for her son, products from high-end shops such as London’s Harrods department store and Louis Vuitton, and further private jet flights.

Mrs Alison-Madueke has been involved in numerous legal cases globally, including in the United States.

She has been on bail in Britain since she was arrested in October 2015.

In 2023, she was formally charged with accepting bribes, which she has denied.

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Egbin Power Unveils Tech Empowerment Scheme for Youth Employability, Others

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Egbin Power Tech Empowerment Programme

By Modupe Gbadeyanka

An initiative designed to encourage entrepreneurship, expand access to opportunities in the digital economy, and improve the employability of young people in its host communities has been launched by Egbin Power Plc.

The tech-based empowerment programme will equip young persons from Egbin, Ijede and Ipakan areas of Lagos State with digital skills.

The chief executive of the power-generating firm, Mr Mokhtar Bounour, described the initiative as part of the company’s Personal Corporate Social Responsibility (PCSR) efforts, reflecting its commitment to inclusive and sustainable development, adding that its responsibilities extend beyond electricity generation to empowering people in surrounding communities.

“In today’s digital age, technology is no longer optional but a critical driver of economic inclusion and growth,” Mr Bounour said, noting that deliberate interventions were needed to bridge digital gaps and prevent uneven development.

He explained that when communities are excluded from the digital economy, development becomes uneven and unsustainable, reinforcing the need for deliberate interventions that bridge digital gaps.

He pointed out that, “The Empowerment Programme is designed to address this gap by providing young people in Egbin, Ijede and Ipakan with access to practical and in-demand digital skills that can improve employability, foster entrepreneurship, and create new economic opportunities within their communities.”

The first cohort brings together beneficiaries from the three communities for structured training in ICT fundamentals, graphic design, full-stack web development, digital marketing, cybersecurity and data analytics. The programme combines classroom instruction with hands-on learning.

Participants were selected through a screening process that assessed curiosity, determination and willingness to learn, the company said. Beyond technical training, the programme also includes workplace skills such as ethics, problem-solving, collaboration, professionalism and digital responsibility.

Mr Bounour urged beneficiaries to act as ambassadors of the initiative and demonstrate the values of integrity, discipline and service, saying their progress would serve as evidence that strategic corporate responsibility can deliver measurable impact.

He encouraged participants to recognise their broader responsibility to their communities, urging them to learn with character, pay their knowledge forward, mentor others, and use their skills to solve real local problems. He noted that the true legacy of the programme will be the ripple effects it creates through shared success and communal growth.

The launch of the Tech Empowerment Programme underscores Egbin Power’s continued commitment to sustainable community development, trust-building, and long-term value creation.

The company reaffirmed its dedication to investing strategically in people, strengthening host communities, and contributing meaningfully to Nigeria’s digital and economic future.

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