Information at
yanriboreporters’s disposals revealed that the executive governor of Kwara
State, Alhaji Abdulfatah
Ahmed and
political brother, Senator Dr Abubakar Bukola Saraki are presently running from
pillar to post to save their head over an alleged N2 billion (Two billion
naira) money laundering scam.
We gathered that
the duo perpetuated the fraud via allegedly using multiple companies and aides.
This is really dirty!
Meanwhile, Dr
Bukola Saraki in February this year filed a motion for an order of perpetual
injunction restraining the Inspector General of Police and the Head, Special
Fraud Unit of the Nigeria Police from prosecuting him over these allegations of
Fraud. Running for cover.
Sources disclosed
that Joy Petroleum Limited had, in a petition to the Inspector General of
Police, dated September 11, 2011, alleged that illegal withdrawals were made
from its accounts domiciled at the then Intercontinental Bank Plc. Armed with
this petition, the police detective swung into action, and through a forensic
scrutiny of the documents, it established that Joy Petroleum was the parent
company of four other companies namely, Skyview Properties Limited, Limkers
Limited, Dicetrade Limited and Carlisle Properties & investment Limited.
Interestingly, the police also discovered that while it was indicated in the
bank documents that Dr Bukola Saraki was the prime promoter of all the
companies including Joy Petroleum Ltd, he however denied being the owner of and
prime promoter of the companies except Joy Petroleum Limited which he claimed
belonged to his former personal Assistant, Late Matthew Obahor, who was then
the Managing Director of the company. It was the same Matthew Obahor who also
administered over the four other companies on behalf of Senator Saraki when he
was elected Governor of Kwara State in 2003.
Police
investigations revealed that these companies were indebted to intercontinental
Bank to the tune of about N11 billion; to find its way out of these debts,
Senator Saraki was alleged to have entered into a debt negotiation with the
then Central Bank of Nigeria (CBN)-appointed management of the Bank, led by Lai
Mamoud Alabi, after which he paid the sum of N4.7 billion with loans he
allegedly obtained from two other banks. The police also found out from records
in Intercontinental Bank that over 6 billion worth of debt was written off and
documents for the collaterals for loans handed back to Dr. Bukola Saraki by the
Lai Alabi-led management of Intercontinental Bank.
During
interrogation, the former governor acknowledged paying off the debts of the
companies including that of Joy Petroleum Ltd. The investigation identified a
twist in the case when one Toyin Pinheiro who was neither a director nor an
employee of Joy Petroleum Ltd forwarded two drafts, one for N160 million and
another for N204 million to Intercontinental Bank on behalf of Joy Petroleum
Ltd on a Joy Petroleum Limited letterhead as the authorized signatory. Given
that the investigation observed that the MD/CEO of Joy Petroleum Ltd, Mr. Matthew
Obahor, who was a personal Assistant to Dr Bukola Saraki and sole signatory to
the company account was sick and in a vegetative state and could not have
instructed the bank to raise the draft, the police were startled and forced
into further probing, which revealed the real operator of the account.
It was
additionally revealed that Mr Paul Obahor, who took over as the Managing
Director of Joy Petroleum Ltd after the death of Matthew Obahor, petitioned the
IGP to investigate the identity of the individual who authorized the
disbursement of the N160 million being part of the facility Joy Petroleum
received at that time since neither himself nor Matthew Obahor, who was the
sole signatory to the account did so. Lastly, Paul also wanted the Inspector-General
of police to find out what had become of the balance of N40 million that should
have been in the account of the company but now missing.
Further
investigations revealed that the customer that allegedly brought the N160
million draft in the name Joy Petroleum Ltd was Dr Bukola Saraki. The police
invited Toyin Pineirho (SAN) to tender the authority that conferred on him the
status of 'authorized signatory' to Joy Petroleum Ltd. In his written
statement, he claimed that there was no authority in Joy Petroleum Ltd that
conferred such authority on him but that he only acted in that capacity as the
attorney to the company.
Yanriboreporters further
gathered that the police discovered after their investigations that Dr. Saraki,
who was allegedly granted a loan by a new generation bank (name withheld) with
which a draft of N160 million was made in the name of Joy Petroleum Ltd. Was at
the time not a customer of the bank from which the fund was source. He neither
maintained a current nor savings account with the bank that claimed to have
granted him the loan. It was also found that there was no evidence that Dr
Bukola Saraki applied for a loan of N160 million or a loan of any other amount,
either in person or by proxy by way of a formal request in accordance with best
practice.
Accordingly, the
investigation report concluded that the offences Dr Bukola Saraki and his
associates committed were under the fail Banks (Recovery of debts) and
financial malpractice in Banks Act, Cap.F2 Laws of the federation of Nigeria,
2004, offences under section 484 of the Criminal Code Act, CAP C38, Laws of the
federation, 2004 and as well as offences under section 10(1) (2) of the Money
Laundering Act. Also, Mr. Pinheiro responded to the police invitation and
denied having anything to do with how the draft was raised and by whom and how
the account was operated except his role in forwarding it as the Attorney to
Joy Petroleum Ltd, the bank has claimed that the loan offer made to Joy
Petroleum Ltd, was not disbursed.
On the
allegations of Money Laundering charges, it was discovered in statement of
account another new generation bank (name withheld) and other documents that
the pattern of cash lodgments into the account between February 8, 2010 and
January 28, 2011 amounting to about N484, 416, 000.00 is indicative of evidence
of money laundering. First, the police found out that the monies were deposited
in cash by the aides of Dr. Saraki. They also discovered that Dr. Saraki's aids
took precaution to make the cash deposits in such a manner as to beat the
provisions of the Money laundering Act but were nevertheless betrayed by the
frequency of the lodgments.
Also, one Abdul
Adama, a personal Assistant to Dr. Saraki, was responsible for making the cash
deposits using several fictitious conjured-up names and telephone numbers of
several individuals. The said Abdul Adama has refused to honour all invitations
that have been extended to him by the police to explain the source of the cash
he lodged and why he used several fictitious names to do so. More so, the Kwara
State Governor Alhaji Abdulfatah Ahmed who himself was commissioner for Finance
when Saraki was governor of the state has been shielding one Austin Ikpi,
a staff in the Government House that was found to have made a cash deposit
of N35, 000. 00 into the account on the January 18, 2011, from answering
questions as to the source of the cash, our source added. Governor Ahmed who is
hell-bent on protecting Saraki was also appointed by commissioner for Ministry
of Planning and Economic Development. He was chairman, budget Formulation
committee and Economic Team of Kwara state. He was appointed a member of board
of directors of the International Aviation College, Ilorin, Chairman of the
Millennium Development Goals implementation committee and Chairman of Songa
Farms Holdings Ltd.
The police also
found out that one Kennedy Izuagbe a personal Assistant to Dr. Saraki and sole
signatory to the account had denied having any knowledge of a N39, 999, 000. 00
cash deposit on February 10, 2010, that was made in his name and all the other
cash lodgments. The very damaging report also showed that Toyin Pinheiro, a
director and shareholder in the company, denied knowledge of the various cash
lodgments that where made into the account and had asked that Kennedy Izuagbe
the managing director and sole signatory to the account be asked to account for
the lodgments.
Police sources
also said that Mrs. Toyin Saraki, wife of Dr. Bukola Saraki, the second
director and shareholder of this company who might be in a position to know of
the various cash lodgments that where made into the account has also refused to
honour invitations extended to her to explain the source(s) of the cash.
Dr. Saraki who
has now approached the courts to stop the investigation has himself also
refused to honour recent invitations sent to him to explain the sources of the
cash especially as the lodgments were by his personal aides while he was
Governor of Kwara state.
According to
police investigations, some observed inflows and outflows cross crossing
between Dr. Bukola Saraki's personal account, an Oil and Gas company and
Carlisle properties and Investment Ltd., prompted further investigations and
request for the personal statement of accounts for Dr. Bukola Saraki and for
that of Carlisle properties Ltd., and the Oil and Gas company from Access Bank
Plc.
On Dr. Saraki's
personal accounts, ICON Weekly GATHERED the scrutiny of whose details
also led to the discovery of his domiciliary US Dollar accounts and British
Pound Sterling accounts. Further scrutiny showed that the pattern and
frequencies of cash deposits into these personal accounts of Dr. Saraki , are
indicative of money laundering.
First, the cash
deposits are in excess of N2billion (two billion naira).most of the deposits
were made by senator Saraki’s aides, particularly Abdul Adama that Saraki
though his aides, took precaution to deposits the cash in volumes designed to
beat the provisions of the Money Laundering Act and to avoid detection.
However, their design was betrayed by unjustifiable frequencies of the
lodgments, as exposed by forensic investigation.
That part of the
precautions taken by Dr. Bukola Saraki was the usage of several fictitious
names to make the deposit which were betrayed by the hand-writing on the deposit
slips, which were all the same, Forensic handwriting experts revealed. Also,
the naira denominated account received a cash lodgment by Dr. Bukola Saraki's
aides between March 23, 2006, and November 11, 2011, in excess of N800 million.
Our anti-corruption
sources further revealed that the funds were mostly stashed in overseas bank
accounts to fund Saraki's American Express Card No. 37458821xxxx (detail
withheld). That the dollar denominated account also received an inflow of about
$4,560,871.27 (four million, five hundred and sixty thousand and eight hundred
and seventy one dollars and twenty seven cents) between May 18, 2009 and Ma 5,
2011, mostly cash lodgments and a couple of Transfers, and that the entire
funds were also washed overseas to fund the American Express Europe Ltd. Card
of Dr. Saraki Police investigation also funds were also immediately transferred
offshore and used to finance the purchase of a landed property in
the UK.
After the
investigations, the police have recommended that Dr. Saraki and his aides be
prosecuted for offences relating to Money Laundering and for the breach of the
Forex (Monitoring and Miscellaneous provisions) Act, sections 12(1), 29(2) (a)
and (b), 39 (3)(4) and 30(1)(a), (2)(b).
Senator Bukola
Saraki, it would be recalled, had, in February this year, sought the prayers of
the Federal High Court Abuja Division restraining the police from prosecuted
him. In the suit, he sought the court to declare as illegal, efforts by the
police to have him arrested and prosecuted for money Laundering and other
offences. He also sought a declaration that the invitation extended to him by
the police was illegal and an order of perpetual injunction restraining the
police and their agents from arresting him, his wife and his associates, namely
Mr. Toyin Pinheiro, Kenedy Izugbe, Sunday Iborah, Peter Osagiede, Abdul Adama
and Austin Ikpi in connection with the complaints of Joy Petroleum as they had
concluded their investigations.
The police,
however, opposed the application by Senator Saraki in a 10-paragraph affidavit;
that, contrary to claims by Saraki that they had completed investigations are
still on as another complaint came in the course of the investigations which
led to the stupendous amounts laundered by his companies.
They also urged
the judge to determine whether Senator Saraki is immune to invitation or arrest
when there is a criminal allegation against him, and whether he could not sue
or be sued. The police also provided evidence to counter the claims of whether
Senator Saraki’s fundamental human rights had been breached, saying that the
police had at no time harassed or intimidated the Senator urging the court to
strike out the prayers of Dr. Saraki and that none of those he sought to shield
from prosecution should be shielded because of the enormity the case at hand.
The police insisted that Senator Saraki was crying wolf to avoid the
consequences of his actions as nobody is above the law.
In line with
yanriboreporters’s investigative journalism practice, our reporter contacted an
aide to Senator Bukola Saraki, Alhaji Billy Adedamola, for the APC Chieftain’s
angle to the report, in his response, he said “Thank you very much for getting
across. May the blessings of the most High never depart from you. Sen. Saraki
is not involved in any fraud. It’s an old story with blackmail intent. If it’s
true, a case has been filed, why not wait till the hearing so that you can get
the full details. Once again, I thank you for reaching out to us”. He
submitted.
Our reporter also
got across to the Senior Special Assistant to Governor Abdulfatah Ahmed on
Media matters, Mr. Femi Akorede, for the Kwara State number One citizen’s
reaction; his words“Thank you for contacting me, I will get back to you”.
“Meanwhile, kindly forward full details to me (his email address) for a full
response”.
Our reporter did
as requested, but there was no response from him as at press time.
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